Perenti Full Year 2024 Earnings: EPS Misses Expectations

Perenti (ASX:PRN) Full Year 2024 Results

Key Financial Results

• Revenue: AU$3.35b (up 16% from FY 2023).
• Net income: AU$95.5m (flat on FY 2023).
• Profit margin: 2.9% (down from 3.3% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: AU$0.11 (down from AU$0.14 in FY 2023).

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

Perenti EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 41%.

The primary driver behind last 12 months revenue was the Contract Mining Services segment contributing a total revenue of AU$2.54b (76% of total revenue). Notably, cost of sales worth AU$2.37b amounted to 71% of total revenue thereby underscoring the impact on earnings.Explore how PRN's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Metals and Mining industry in Australia.

Performance of the Australian Metals and Mining industry.

The company's shares are down 3.9% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Perenti, and understanding them should be part of your investment process.

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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.