Fortum Oyj Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Fortum Oyj (HEL:FORTUM) Third Quarter 2024 Results

Key Financial Results

• Revenue: €1.10b (down 9.9% from 3Q 2023).
• Net income: €132.0m (down 30% from 3Q 2023).
• Profit margin: 12% (down from 15% in 3Q 2023). The decrease in margin was driven by lower revenue.
• EPS: €0.14 (down from €0.21 in 3Q 2023).

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

Fortum Oyj EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) exceeded analyst estimates by 40%.

Looking ahead, revenue is expected to decline by 3.6% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 1.7%.

Performance of the market in Finland.

The company's shares are down 1.4% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Fortum Oyj has 2 warning signs (and 1 which is potentially serious) we think you should know about.

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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.