Fortescue Full Year 2024 Earnings: Misses Expectations

Fortescue (ASX:FMG) Full Year 2024 Results

Key Financial Results

• Revenue: US$18.2b (up 8.0% from FY 2023).
• Net income: US$5.68b (up 18% from FY 2023).
• Profit margin: 31% (up from 28% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: US$1.85 (up from US$1.56 in FY 2023).

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

Fortescue Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 8.4%.

Looking ahead, revenue is expected to decline by 6.2% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 1.4%.

Performance of the Australian Metals and Mining industry.

The company's shares are up 2.6% from a week ago.

Risk Analysis

It is worth noting though that we have found 2 warning signs for Fortescue (1 is a bit concerning!) that you need to take into consideration.

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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.