Magnora Third Quarter 2024 Earnings: Misses Expectations

Simply Wall St · 10/17 04:07

Magnora (OB:MGN) Third Quarter 2024 Results

Key Financial Results

  • Revenue: kr257.4m (up by kr243.3m from 3Q 2023).
  • Net income: kr235.4m (up from kr16.7m loss in 3Q 2023).
  • Profit margin: 92% (up from net loss in 3Q 2023). The move to profitability was primarily driven by higher revenue.
  • EPS: kr3.60 (up from kr0.25 loss in 3Q 2023).
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OB:MGN Earnings and Revenue Growth October 17th 2024

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

Magnora Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 28%. Earnings per share (EPS) also missed analyst estimates by 62%.

Looking ahead, revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Renewable Energy industry in Norway.

Performance of the Norwegian Renewable Energy industry.

The company's shares are down 6.2% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for Magnora (2 are a bit concerning!) that you need to be mindful of.