Mainfreight Full Year 2024 Earnings: Misses Expectations

Mainfreight (NZSE:MFT) Full Year 2024 Results

Key Financial Results

• Revenue: NZ$4.72b (down 17% from FY 2023).
• Net income: NZ$208.7m (down 51% from FY 2023).
• Profit margin: 4.4% (down from 7.5% in FY 2023). The decrease in margin was driven by lower revenue.
• EPS: NZ$2.07 (down from NZ$4.24 in FY 2023).

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

Mainfreight Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 26%.

The primary driver behind last 12 months revenue was the Domestic Transport segment contributing a total revenue of NZ$2.19b (46% of total revenue). Notably, cost of sales worth NZ$3.63b amounted to 77% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling NZ$581.3m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how MFT's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Global Logistics industry.

Performance of the market in New Zealand.

The company's shares are down 2.1% from a week ago.

Risk Analysis

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

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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.

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