MPC Container Ships First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

MPC Container Ships (OB:MPCC) First Quarter 2024 Results

Key Financial Results

• Revenue: US$147.5m (down 18% from 1Q 2023).
• Net income: US$76.4m (down 36% from 1Q 2023).
• Profit margin: 52% (down from 66% in 1Q 2023).
• EPS: US$0.17 (down from US$0.27 in 1Q 2023).

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

MPC Container Ships Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 12%.

Looking ahead, revenue is forecast to decline by 29% p.a. on average during the next 3 years, while revenues in the Shipping industry in Norway are expected to remain flat.

Performance of the Norwegian Shipping industry.

The company's shares are up 14% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 5 warning signs for MPC Container Ships (2 make us uncomfortable!) that you need to be mindful of.

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