New Wave Group First Quarter 2024 Earnings: Beats Expectations

New Wave Group (STO:NEWA B) First Quarter 2024 Results

Key Financial Results

• Revenue: kr2.00b (down 6.6% from 1Q 2023).
• Net income: kr121.3m (down 45% from 1Q 2023).
• Profit margin: 6.1% (down from 10% in 1Q 2023). The decrease in margin was driven by lower revenue.
• EPS: kr0.91 (down from kr1.68 in 1Q 2023).

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

New Wave Group Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 170%.

Looking ahead, revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Luxury industry in Europe.

Performance of the market in Sweden.

The company's shares are down 13% from a week ago.

Valuation

Our analysis of these results suggests New Wave Group may be undervalued based on 6 important criteria we look at. To access our thorough examination of analyst consensus click here and discover the expected future direction of the company.

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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.