Russel Metals Third Quarter 2024 Earnings: Beats Expectations

Russel Metals (TSE:RUS) Third Quarter 2024 Results

Key Financial Results

• Revenue: CA$1.09b (down 1.8% from 3Q 2023).
• Net income: CA$34.5m (down 43% from 3Q 2023).
• Profit margin: 3.2% (down from 5.5% in 3Q 2023).
• EPS: CA$0.59 (down from CA$0.99 in 3Q 2023).

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

Russel Metals Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 4.7%.

Looking ahead, revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Trade Distributors industry in Canada.

Performance of the Canadian Trade Distributors industry.

The company's shares are up 13% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on Russel Metals' balance sheet.

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