Reece (ASX:REH) Full Year 2024 Results
Key Financial Results
- Revenue: AU$9.10b (up 3.0% from FY 2023).
- Net income: AU$419.2m (up 8.1% from FY 2023).
- Profit margin: 4.6% (up from 4.4% in FY 2023). The increase in margin was driven by higher revenue.
All figures shown in the chart above are for the trailing 12 month (TTM) period
Reece Revenues Beat Expectations
Revenue exceeded analyst estimates by 1.8%.
The primary driver behind last 12 months revenue was the United States segment contributing a total revenue of AU$5.17b (57% of total revenue). Notably, cost of sales worth AU$6.50b amounted to 71% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to AU$1.93b (88% of total expenses). Explore how REH's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Trade Distributors industry in Australia.
Performance of the Australian Trade Distributors industry.
The company's shares are up 1.7% from a week ago.
Valuation
It's possible that Reece could be overvalued with our 6-factor valuation analysis indicating potential weakness. You can access our in-depth analysis and discover what the outlook is like for the stock by clicking here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About ASX:REH
Reece
Engages in the distribution of plumbing, bathroom, heating, ventilation, air-conditioning, waterworks, and refrigeration products to commercial and residential customers in Australia, the United States, and New Zealand.
Flawless balance sheet with acceptable track record.
