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.
Valuation is complex, but we're here to simplify it.
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