MODEC Full Year 2024 Earnings: Beats Expectations

MODEC (TSE:6269) Full Year 2024 Results

Key Financial Results

• Revenue: US$4.19b (up 16% from FY 2023).
• Net income: US$220.4m (up 127% from FY 2023).
• Profit margin: 5.3% (up from 2.7% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: US$3.23 (up from US$1.56 in FY 2023).

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

MODEC Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 33%.

The primary driver behind last 12 months revenue was the Brazil segment contributing a total revenue of US$2.20b (52% of total revenue). Notably, cost of sales worth US$3.79b amounted to 91% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$223.9m (100% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$51.5m. Explore how 6269's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Asia are expected to grow by 7.7%.

Performance of the market in Japan.

The company's shares are up 46% from a week ago.

Risk Analysis

It is worth noting though that we have found 3 warning signs for MODEC (2 are a bit unpleasant!) that you need to take into consideration.

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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.