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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