Stock Analysis
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- TSE:1911
Sumitomo Forestry First Quarter 2024 Earnings: EPS Beats Expectations
Sumitomo Forestry (TSE:1911) First Quarter 2024 Results
Key Financial Results
- Revenue: JP¥453.6b (up 21% from 1Q 2023).
- Net income: JP¥22.2b (up 54% from 1Q 2023).
- Profit margin: 4.9% (up from 3.8% in 1Q 2023). The increase in margin was driven by higher revenue.
- EPS: JP¥109 (up from JP¥72.07 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Sumitomo Forestry EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 43%.
Looking ahead, revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Consumer Durables industry in Japan.
Performance of the Japanese Consumer Durables industry.
The company's shares are up 11% from a week ago.
Risk Analysis
Before we wrap up, we've discovered 2 warning signs for Sumitomo Forestry that you should be aware of.
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About TSE:1911
Sumitomo Forestry
Engages in the timber and building materials, housing, lifestyle services, global housing, construction and real estate, and environment and resources businesses in Japan, the United States, and internationally.
Flawless balance sheet with proven track record and pays a dividend.