CI&T Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

CI&T (NYSE:CINT) Third Quarter 2024 Results

Key Financial Results

• Revenue: R$622.2m (up 18% from 3Q 2023).
• Net income: R$28.6m (down 21% from 3Q 2023).
• Profit margin: 4.6% (down from 6.8% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: R$0.21 (down from R$0.27 in 3Q 2023).

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

CI&T Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) missed analyst estimates by 28%.

Looking ahead, revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the IT industry in the US.

Performance of the American IT industry.

The company's shares are down 11% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We have a graphic representation of CI&T's balance sheet and an in-depth analysis of the company's financial position.

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