Finning International Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS In Line

Finning International (TSE:FTT) Second Quarter 2024 Results

Key Financial Results

• Revenue: CA$2.92b (up 5.1% from 2Q 2023).
• Net income: CA$144.0m (down 2.7% from 2Q 2023).
• Profit margin: 4.9% (down from 5.3% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: CA$1.02.

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

Finning International Revenues Beat Expectations

Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is expected to decline by 1.7% p.a. on average during the next 3 years, while revenues in the Trade Distributors industry in Canada are expected to grow by 3.5%.

Performance of the Canadian Trade Distributors industry.

The company's shares are down 9.5% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Finning International (1 is a bit unpleasant) you should be aware of.

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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.