Engie Full Year 2024 Earnings: Misses Expectations
Engie (EPA:ENGI) reported its Full Year 2024 results, revealing a revenue of €73.8 billion, down 11% from FY 2023, and a net income of €4.03 billion, up 89%. Despite an increase in profit margin to 5.5%, both revenue and EPS missed analyst expectations by 9.3% and 23%, respectively. The Others segment contributed significantly to revenue. Looking ahead, revenue is expected to remain flat over the next three years, contrasting with a 2.8% growth forecast for the Integrated Utilities industry in Europe. Engie's shares have risen 7.4% over the past week, but risks remain.
Engie (EPA:ENGI) Full Year 2024 Results
Key Financial Results
- Revenue: €73.8b (down 11% from FY 2023).
- Net income: €4.03b (up 89% from FY 2023).
- Profit margin: 5.5% (up from 2.6% in FY 2023). The increase in margin was driven by lower expenses.
- EPS: €1.66 (up from €0.88 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Engie Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 9.3%. Earnings per share (EPS) also missed analyst estimates by 23%.
The primary driver behind last 12 months revenue was the Others segment contributing a total revenue of €36.4b (49% of total revenue). Notably, cost of sales worth €49.4b amounted to 67% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to €8.85b (43% of total expenses). Explore how ENGI's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 2.8% growth forecast for the Integrated Utilities industry in Europe.
Performance of the market in France.
The company's shares are up 7.4% from a week ago.
Risk Analysis
Don't forget that there may still be risks. For instance, we've identified 3 warning signs for Engie (1 shouldn't be ignored) you should be aware of.
