Mullen Group Third Quarter 2024 Earnings: Beats Expectations

Mullen Group (TSE:MTL) Third Quarter 2024 Results

Key Financial Results

• Revenue: CA$532.0m (up 5.6% from 3Q 2023).
• Net income: CA$38.4m (down 1.9% from 3Q 2023).
• Profit margin: 7.2% (down from 7.8% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: CA$0.44 (down from CA$0.44 in 3Q 2023).

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

Mullen Group Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 12%.

Looking ahead, revenue is forecast to grow 4.5% 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 up 6.6% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Mullen Group has 2 warning signs we think you should be aware of.

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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.