Elkem First Quarter 2024 Earnings: Misses Expectations

Elkem (OB:ELK) First Quarter 2024 Results

Key Financial Results

• Revenue: kr7.96b (down 18% from 1Q 2023).
• Net loss: kr439.0m (down by 146% from kr952.0m profit in 1Q 2023).
• kr0.69 loss per share (down from kr1.50 profit in 1Q 2023).

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

Elkem Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) also missed analyst estimates.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Chemicals industry in Norway.

Performance of the Norwegian Chemicals industry.

The company's shares are down 9.5% from a week ago.

Valuation

Our analysis of these results suggests Elkem may be undervalued based on 6 important criteria we look at. To access our thorough examination of analyst consensus click here and discover the expected future direction of the company.

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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.