CI Financial (TSE:CIX) 2024 Q1 Financial Results
Main financial results
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Revenue: C$813.9 million (up 8.2% from Q1 2023).
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Net loss: CA$154.4 million (down from CA$30 million profit in Q1 2023).
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A loss of C$1.00 per share (down from a profit of C$0.16 in the first quarter of 2023).
All numbers shown in the chart above are for the trailing 12 month (TTM) period.
CI financial revenues and profits are below expectations
Sales were 16% lower than analysts expected. Earnings per share (EPS) were also lower than analysts expected.
Looking forward, sales are expected to decline by an average of 1.7% per year over the next three years, while revenues for the Canadian Capital Markets industry are expected to grow by 9.0%.
performance of Canada's Capital Markets Industry.
The company's stock price has fallen 12% from a week ago.
risk analysis
The ever-present concern of investment risk must be taken into account. We've identified 2 warning signs for you Understanding CI Financial's affiliations (there is at least one, which is a bit jarring) 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 using only unbiased methodologies, based on historical data and analyst forecasts, and articles are not intended to be financial advice. This is not a recommendation to buy or sell any stock, and does not take into account your objectives or financial situation. We aim to provide long-term, focused analysis based on fundamental data. Note that our analysis may not factor in the latest announcements or qualitative material from price-sensitive companies. Simply Wall St has no position in any stocks mentioned.
