Innergex Renewable Energy (TSE:INE) Second Quarter 2024 Results

Key Financial Results

• Revenue: CA$260.0m (down 3.6% from 2Q 2023).

• Net income: CA$19.9m (up 3.2% from 2Q 2023).

• Profit margin: 7.7% (up from 7.2% in 2Q 2023).

• EPS: CA$0.09.

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

Innergex Renewable Energy Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates.

Looking ahead, revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 4.0% growth forecast for the Renewable Energy industry in Canada.

Performance of the Canadian Renewable Energy industry.

The company's shares are up 2.9% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 2 warning signs for Innergex Renewable Energy (1 doesn't sit too well with us!) that you need to be mindful of.

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