Freehold Royalties First Quarter 2024 Earnings: Misses Expectations

Freehold Royalties (TSE:FRU) First Quarter 2024 Results

Key Financial Results

• Revenue: CA$74.3m (down 3.0% from 1Q 2023).
• Net income: CA$34.0m (up 9.6% from 1Q 2023).
• Profit margin: 46% (up from 41% in 1Q 2023). The increase in margin was driven by lower expenses.
• EPS: CA$0.23 (up from CA$0.21 in 1Q 2023).

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

Freehold Royalties Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 39%.

Looking ahead, revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Oil and Gas industry in Canada.

Performance of the Canadian Oil and Gas industry.

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

Risk Analysis

We should say that we've discovered 1 warning sign for Freehold Royalties 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.