Magellan Financial Group Full Year 2024 Earnings: Beats Expectations

Simply Wall St

August 17, 2024

Magellan Financial Group (ASX:MFG) Full Year 2024 Results

Key Financial Results

Revenue: AU$378.5m (down 12% from FY 2023).
Net income: AU$238.8m (up 31% from FY 2023).
Profit margin: 63% (up from 42% in FY 2023). The increase in margin was driven by lower expenses.
EPS: AU$1.32 (up from AU$1.00 in FY 2023).

revenue-and-expenses-breakdown — ASX:MFG Revenue and Expenses Breakdown August 17th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Magellan Financial Group Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 20%. Earnings per share (EPS) also surpassed analyst estimates by 31%.

The primary driver behind last 12 months revenue was the Investment Management Services segment contributing a total revenue of AU$279.8m (74% of total revenue). The largest operating expense was General & Administrative costs, amounting to AU$29.2m (44% of total expenses). Explore how MFG's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to decline by 11% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Australia are expected to grow by 4.9%.

Performance of the Australian Capital Markets industry.

The company's shares are up 15% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 4 warning signs for Magellan Financial Group (2 are significant) you should be aware of.

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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.