Mullen Group First Quarter 2024 Earnings: Misses Expectations

Mullen Group (TSE:MTL) First Quarter 2024 Results

Key Financial Results

• Revenue: CA$462.6m (down 7.1% from 1Q 2023).
• Net income: CA$22.2m (down 30% from 1Q 2023).
• Profit margin: 4.8% (down from 6.4% in 1Q 2023). The decrease in margin was driven by lower revenue.
• EPS: CA$0.25 (down from CA$0.34 in 1Q 2023).

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

Mullen Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 7.8%. Earnings per share (EPS) also missed analyst estimates by 22%.

Looking ahead, revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Transportation industry in North America.

Performance of the market in Canada.

The company's shares are down 8.3% from a week ago.

Risk Analysis

Before you take the next step you should know about the 2 warning signs for Mullen Group that we have uncovered.

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