Norva24 Group First Quarter 2024 Earnings: Misses Expectations

Norva24 Group (STO:NORVA) First Quarter 2024 Results

Key Financial Results

• Revenue: kr769.9m (up 9.3% from 1Q 2023).
• Net income: kr21.3m (down 35% from 1Q 2023).
• Profit margin: 2.8% (down from 4.6% in 1Q 2023). The decrease in margin was driven by higher expenses.
• EPS: kr0.12 (down from kr0.18 in 1Q 2023).

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

Norva24 Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 18%.

Looking ahead, revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Commercial Services industry in Sweden.

Performance of the Swedish Commercial Services industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for Norva24 Group you should know about.

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