Yahoo Finance CI Financial First Quarter 2024 Earnings: Misses Expectations
CI Financial (TSE:CIX) First Quarter 2024 Results
Key Financial Results
Revenue: CA$813.9m (up 8.2% from 1Q 2023).
Net loss: CA$154.4m (down from CA$30.0m profit in 1Q 2023).
CA$1.00 loss per share (down from CA$0.16 profit in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
CI Financial Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 16%. Earnings per share (EPS) was also behind analyst expectations.
Looking ahead, revenue is expected to decline by 1.7% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Canada are expected to grow by 9.0%.
Performance of the Canadian Capital Markets industry.
The company's shares are down 12% from a week ago.
Risk Analysis
It's necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with CI Financial (at least 1 which makes us a bit uncomfortable), and understanding them should be part of your investment process.
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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.
