P/F Bakkafrost Third Quarter 2024 Earnings: Misses Expectations

P/F Bakkafrost (OB:BAKKA) Third Quarter 2024 Results

Key Financial Results

• Revenue: kr.1.74b (down 6.6% from 3Q 2023).
• Net loss: kr.113.7m (down by 152% from kr.219.0m profit in 3Q 2023).
• kr.1.96 loss per share (down from kr.3.70 profit in 3Q 2023).

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

P/F Bakkafrost Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 11%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Food industry in Norway.

Performance of the Norwegian Food industry.

The company's shares are down 2.6% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. See our latest analysis on P/F Bakkafrost's balance sheet health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.