News
CI Q1 2024 Financial Profits: Misses Expectations
CI Financial (TSE:CIX) Results for the first quarter of 2024
Main financial results
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Revenue: CA$813.9 million (8.2% increase compared to 1Q 2023).
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Net loss: CA$154.4 million (below the profit of CA$30.0 million in 1Q 2023).
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Loss of CA$1.00 per share (below profit of CA$0.16 in 1Q 2023).
earnings and revenue growth
All numbers shown in the chart above are for the period of the last 12 months (TTM)
CI’s revenues and financial gains do not meet expectations
Revenue missed analyst estimates by 16%. Earnings per share (EPS) also fell short of analysts’ expectations.
Looking ahead, revenues are expected to decline by an average of 1.7% per year over the next 3 years, while Capital Markets industry revenues in Canada are expected to grow by 9.0%.
Performance of Canadian capital markets industry.
The company’s shares fell 12% from the previous week.
Risk analysis
It is necessary to consider the ever-present spectrum of investment risk. We’ve identified 2 warning signs with CI Financial (at least 1 which makes us a little uncomfortable)and understanding them should be part of your investment process.
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