BlueNord ASA (OB:BNOR) First-Quarter Results: Here's What Analysts Are Forecasting For This Year

As you might know, BlueNord ASA (OB:BNOR) just kicked off its latest quarterly results with some very strong numbers. Results were good overall, with revenues beating analyst predictions by 4.5% to hit US$221m. Statutory earnings per share (EPS) came in at US$1.10, some 2.5% above whatthe analysts had expected. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

See our latest analysis for BlueNord

After the latest results, the consensus from BlueNord's two analysts is for revenues of US$760.8m in 2023, which would reflect a sizeable 25% decline in sales compared to the last year of performance. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$719.2m and earnings per share (EPS) of US$2.91 in 2023. What's really interesting is that while the consensus made a modest lift to revenue estimates, it no longer provides an earnings per share estimate, suggesting that revenues are now the focus of the business after this latest result.

There's been no real change to the consensus price target of kr547, with BlueNord seemingly executing in line with expectations.

Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. These estimates imply that sales are expected to slow, with a forecast annualised revenue decline of 31% by the end of 2023. This indicates a significant reduction from annual growth of 48% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the industry are forecast to see their revenue decline 12% annually for the foreseeable future. The forecasts do look bearish for BlueNord, since they're expecting it to shrink faster than the industry.

The Bottom Line

The highlight for us was that the analysts increased their revenue forecasts for BlueNord next year. Fortunately, they also upgraded their revenue estimates, although BlueNord'srevenues are still expected to trail the wider industry. The consensus price target held steady at kr547, with the latest estimates not enough to have an impact on their price targets.

We have estimates for BlueNord from its two analysts out to 2025, and you can see them free on our platform here.

That said, it's still necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with BlueNord , and understanding them should be part of your investment process.

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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.