Konecranes Second Quarter 2024 Earnings: Beats Expectations

Konecranes (HEL:KCR) Second Quarter 2024 Results

Key Financial Results

• Revenue: €1.03b (up 13% from 2Q 2023).
• Net income: €99.7m (up 76% from 2Q 2023).
• Profit margin: 9.7% (up from 6.2% in 2Q 2023). The increase in margin was driven by higher revenue.
• EPS: €1.26 (up from €0.71 in 2Q 2023).

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

Konecranes Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 6.8%. Earnings per share (EPS) also surpassed analyst estimates by 44%.

Looking ahead, revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Machinery industry in Finland.

Performance of the Finnish Machinery industry.

The company's shares are up 12% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on Konecranes' balance sheet health.

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