Renesas Electronics First Quarter 2024 Earnings: EPS Beats Expectations

Renesas Electronics (TSE:6723) First Quarter 2024 Results

Key Financial Results

• Revenue: JP¥351.8b (down 2.1% from 1Q 2023).
• Net income: JP¥79.9b (down 24% from 1Q 2023).
• Profit margin: 23% (down from 29% in 1Q 2023). The decrease in margin was primarily driven by higher expenses.
• EPS: JP¥44.90 (down from JP¥58.50 in 1Q 2023).

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

Renesas Electronics EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 28%.

Looking ahead, revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Semiconductor industry in Japan.

Performance of the Japanese Semiconductor industry.

The company's shares are up 6.0% from a week ago.

Valuation

If you are seeking undervalued stocks, our analysis of 6 valuation measures indicates Renesas Electronics could be a good place to look. Click here to find out what a fair price for the stock might be and where analysts see the share price heading over the next year.

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