Elkem Third Quarter 2024 Earnings: Misses Expectations

Elkem (OB:ELK) Third Quarter 2024 Results

Key Financial Results

• Revenue: kr8.06b (up 4.0% from 3Q 2023).
• Net income: kr92.0m (up from kr456.0m loss in 3Q 2023).
• Profit margin: 1.1% (up from net loss in 3Q 2023).
• EPS: kr0.14 (up from kr0.72 loss in 3Q 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 8.2%. Earnings per share (EPS) also missed analyst estimates by 51%.

Looking ahead, revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Chemicals industry in Norway.

Performance of the Norwegian Chemicals industry.

The company's shares are down 1.2% from a week ago.

Risk Analysis

You should learn about the 3 warning signs we've spotted with Elkem (including 1 which is significant).

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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.