Reach Subsea Second Quarter 2024 Earnings: Beats Expectations

Reach Subsea (OB:REACH) Second Quarter 2024 Results

Key Financial Results

• Revenue: kr623.1m (down 2.1% from 2Q 2023).
• Net income: kr87.3m (up 1.0% from 2Q 2023).
• Profit margin: 14% (in line with 2Q 2023).
• EPS: kr0.32.

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

Reach Subsea Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 1.7%.

Looking ahead, revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Energy Services industry in Norway.

Performance of the Norwegian Energy Services industry.

The company's shares are down 7.9% from a week ago.

Risk Analysis

We should say that we've discovered 4 warning signs for Reach Subsea that you should be aware of before investing here.

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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.