Novanta Third Quarter 2024 Earnings: EPS Misses Expectations

Novanta (NASDAQ:NOVT) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$244.4m (up 10% from 3Q 2023).
• Net income: US$19.2m (down 9.6% from 3Q 2023).
• Profit margin: 7.9% (down from 9.6% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$0.53 (down from US$0.59 in 3Q 2023).

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

Novanta EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.6%.

Looking ahead, revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Electronic industry in the US.

Performance of the American Electronic industry.

The company's shares are up 6.6% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Novanta that you should be aware of.

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