Ferronordic Second Quarter 2024 Earnings: Misses Expectations

Ferronordic (STO:FNM) Second Quarter 2024 Results

Key Financial Results

• Revenue: kr1.10b (up 63% from 2Q 2023).
• Net loss: kr81.0m (down by 227% from kr64.0m profit in 2Q 2023).
• kr5.57 loss per share (down from kr4.40 profit in 2Q 2023).

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

Ferronordic Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 12%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Trade Distributors industry in Sweden.

Performance of the Swedish Trade Distributors industry.

The company's shares are down 9.7% from a week ago.

Risk Analysis

We should say that we've discovered 2 warning signs for Ferronordic that you should be aware of before investing here.

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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.