Orkla Second Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Orkla (OB:ORK) Second Quarter 2024 Results

Key Financial Results

• Revenue: kr17.2b (flat on 2Q 2023).
• Net income: kr2.04b (up 49% from 2Q 2023).
• Profit margin: 12% (up from 8.0% in 2Q 2023).
• EPS: kr2.05 (up from kr1.38 in 2Q 2023).

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

Orkla EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) exceeded analyst estimates by 45%.

Looking ahead, revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Food industry in Norway.

Performance of the Norwegian Food industry.

The company's shares are up 4.3% from a week ago.

Risk Analysis

Before you take the next step you should know about the 1 warning sign for Orkla that we have uncovered.

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.

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