Empire Third Quarter 2024 Earnings: Misses Expectations
Empire (TSE:EMP.A) Third Quarter 2024 Results
Key Financial Results
Revenue: CA$7.52b (flat on 3Q 2023).
Net income: CA$134.2m (up 6.8% from 3Q 2023).
Profit margin: 1.8% (in line with 3Q 2023).
EPS: CA$0.55 (up from CA$0.49 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Empire Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 14%.
Looking ahead, revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Consumer Retailing industry in Canada.
Performance of the Canadian Consumer Retailing industry.
The company's shares are down 5.3% from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. See our latest analysis on Empire's balance sheet health.
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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.
