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Martinrea International Third Quarter 2023 Earnings: Beats Expectations
Martinrea International (TSE:MRE) Third Quarter 2023 Results
Key Financial Results
- Revenue: CA$1.38b (up 16% from 3Q 2022).
- Net income: CA$53.7m (up 50% from 3Q 2022).
- Profit margin: 3.9% (up from 3.0% in 3Q 2022). The increase in margin was driven by higher revenue.
- EPS: CA$0.68 (up from CA$0.45 in 3Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Martinrea International Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 30%.
Looking ahead, revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Auto Components industry in Canada.
Performance of the Canadian Auto Components industry.
The company's shares are up 1.5% from a week ago.
Risk Analysis
Before we wrap up, we've discovered 1 warning sign for Martinrea International that you should be aware of.
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Find out whether Martinrea International is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.
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About TSX:MRE
Martinrea International
Martinrea International Inc. engages in the design, development, and manufacturing of engineered, value-added lightweight structures and propulsion systems worldwide.
Very undervalued with adequate balance sheet and pays a dividend.