Leon's Furniture Third Quarter 2024 Earnings: Misses Expectations

Leon's Furniture (TSE:LNF) Third Quarter 2024 Results

Key Financial Results

• Revenue: CA$651.9m (down 1.4% from 3Q 2023).
• Net income: CA$36.9m (down 30% from 3Q 2023).
• Profit margin: 5.7% (down from 7.9% in 3Q 2023). The decrease in margin was primarily driven by lower revenue.
• EPS: CA$0.54 (down from CA$0.77 in 3Q 2023).

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

Leon's Furniture Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 2.7%.

Looking ahead, revenue is expected to fall by 55% p.a. on average during the next 3 years compared to a 1.9% decline forecast for the Specialty Retail industry in Canada.

Performance of the Canadian Specialty Retail 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 Leon's Furniture that you should be aware of before investing here.

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