Sumitomo Rubber Industries Third Quarter 2024 Earnings: Misses Expectations

Sumitomo Rubber Industries (TSE:5110) Third Quarter 2024 Results

Key Financial Results

• Revenue: JP¥287.9b (flat on 3Q 2023).
• Net loss: JP¥34.7b (down by 282% from JP¥19.0b profit in 3Q 2023).
• JP¥132 loss per share (down from JP¥72.27 profit in 3Q 2023).

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

Sumitomo Rubber Industries Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Auto Components industry in Japan.

Performance of the Japanese Auto Components industry.

The company's shares are up 7.2% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 3 warning signs for Sumitomo Rubber Industries that you should be aware of.

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