Eagers Automotive First Half 2024 Earnings: Misses Expectations

Eagers Automotive (ASX:APE) First Half 2024 Results

Key Financial Results

• Revenue: AU$5.47b (up 13% from 1H 2023).
• Net income: AU$116.0m (down 16% from 1H 2023).
• Profit margin: 2.1% (down from 2.9% in 1H 2023). The decrease in margin was driven by higher expenses.
• EPS: AU$0.45 (down from AU$0.54 in 1H 2023).

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

Eagers Automotive Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 3.6%.

Looking ahead, revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Specialty Retail industry in Australia.

Performance of the Australian Specialty Retail industry.

The company's shares are down 4.6% from a week ago.

Risk Analysis

We should say that we've discovered 2 warning signs for Eagers Automotive (1 is a bit unpleasant!) that you should be aware of before investing 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.