Mitie Group Full Year 2024 Earnings: EPS Beats Expectations
Mitie Group (LON:MTO) Full Year 2024 Results
Key Financial Results
Revenue: UK£4.45b (up 13% from FY 2023).
Net income: UK£126.3m (up 39% from FY 2023).
Profit margin: 2.8% (up from 2.3% in FY 2023). The increase in margin was driven by higher revenue.
EPS: UK£0.098 (up from UK£0.068 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Mitie Group EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 17%.
The primary driver behind last 12 months revenue was the Business Services segment contributing a total revenue of UK£1.49b (34% of total revenue). Notably, cost of sales worth UK£3.95b amounted to 89% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to UK£335.0m (90% of total expenses). Explore how MTO's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Commercial Services industry in the United Kingdom.
Performance of the British Commercial Services industry.
The company's shares are down 1.8% from a week ago.
Risk Analysis
It is worth noting though that we have found 1 warning sign for Mitie Group that you need to take into consideration.
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