Neoenergia Third Quarter 2024 Earnings: Beats Expectations

Neoenergia (BVMF:NEOE3) Third Quarter 2024 Results

Key Financial Results

• Revenue: R$12.3b (up 23% from 3Q 2023).
• Net income: R$841.0m (down 46% from 3Q 2023).
• Profit margin: 6.9% (down from 16% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: R$0.69 (down from R$1.27 in 3Q 2023).

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

Neoenergia Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 23%. Earnings per share (EPS) also surpassed analyst estimates by 58%.

Looking ahead, revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Electric Utilities industry in Brazil.

Performance of the Brazilian Electric Utilities industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Before you take the next step you should know about the 2 warning signs for Neoenergia (1 makes us a bit uncomfortable!) that we have uncovered.

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