Stock Analysis

Nokian Renkaat Oyj First Quarter 2024 Earnings: Misses Expectations

Simply Wall St

May 01, 2024

Nokian Renkaat Oyj (HEL:TYRES) First Quarter 2024 Results

Key Financial Results

Revenue: €236.6m (flat on 1Q 2023).
Net loss: €25.5m (loss widened by 36% from 1Q 2023).
€0.18 loss per share (further deteriorated from €0.14 loss in 1Q 2023).

earnings-and-revenue-growth — HLSE:TYRES Earnings and Revenue Growth May 1st 2024

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

Nokian Renkaat Oyj Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 57%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Auto Components industry in Europe.

Performance of the market in Finland.

The company's shares are down 9.5% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for Nokian Renkaat Oyj that you need to take into consideration.

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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.