Cargotec Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags
Cargotec (HEL:CGCBV) Third Quarter 2024 Results
Key Financial Results
- Revenue: €590.3m (down 46% from 3Q 2023).
- Net income: €50.7m (down 53% from 3Q 2023).
- Profit margin: 8.6% (down from 9.7% in 3Q 2023). The decrease in margin was driven by lower revenue.
- EPS: €0.79 (down from €1.66 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Cargotec Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 3.1%.
Looking ahead, revenue is expected to decline by 9.9% p.a. on average during the next 3 years, while revenues in the Machinery industry in Finland are expected to grow by 3.9%.
Performance of the Finnish Machinery industry.
The company's shares are up 8.9% from a week ago.
Risk Analysis
We should say that we've discovered 1 warning sign for Cargotec that you should be aware of before investing here.
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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.
About HLSE:CGCBV
Cargotec
Provides cargo handling solutions and services in Finland, Europe, the Middle East, Africa, the United States, rest of the Americas, China, and rest of Asia-Pacific countries.
Outstanding track record with flawless balance sheet and pays a dividend.