Genovis AB (publ.) First Quarter 2024 Earnings: Beats Expectations

Genovis AB (publ.) (STO:GENO) First Quarter 2024 Results

Key Financial Results

• Revenue: kr41.7m (down 42% from 1Q 2023).
• Net income: kr12.7m (down 71% from 1Q 2023).
• Profit margin: 31% (down from 61% in 1Q 2023). The decrease in margin was primarily driven by lower revenue.
• EPS: kr0.20 (down from kr0.67 in 1Q 2023).

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

Genovis AB (publ.) Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 9.9%. Earnings per share (EPS) also surpassed analyst estimates by 41%.

Looking ahead, revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Life Sciences industry in Sweden.

Performance of the Swedish Life Sciences industry.

The company's shares are up 25% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 1 warning sign for Genovis AB (publ.) that you should be aware of.

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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.