Norsk Hydro Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Norsk Hydro (OB:NHY) Second Quarter 2024 Results

Key Financial Results

• Revenue: kr52.4b (down 2.2% from 2Q 2023).
• Net income: kr2.14b (down 59% from 2Q 2023).
• Profit margin: 4.1% (down from 9.7% in 2Q 2023).
• EPS: kr1.07 (down from kr2.56 in 2Q 2023).

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

Norsk Hydro Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 25%.

Looking ahead, revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Metals and Mining industry in Europe.

Performance of the market in Norway.

The company's shares are down 7.1% from a week ago.

Valuation

If you are seeking undervalued stocks, our analysis of 6 valuation measures indicates Norsk Hydro could be a good place to look. Click here to view our comprehensive analysis and gain insights into the stock's investment prospects.

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