Converge Technology Solutions Third Quarter 2024 Earnings: EPS Misses Expectations

Converge Technology Solutions (TSE:CTS) Third Quarter 2024 Results

Key Financial Results

• Revenue: CA$630.7m (down 11% from 3Q 2023).
• Net loss: CA$3.31m (loss widened by 84% from 3Q 2023).
• CA$0.017 loss per share (further deteriorated from CA$0.009 loss in 3Q 2023).

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

Converge Technology Solutions EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 37%.

Looking ahead, revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the IT industry in North America.

Performance of the market in Canada.

The company's shares are up 15% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Converge Technology Solutions, and understanding it should be part of your investment process.

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