QinetiQ stock soars 12% on 2024 results beat, increased guidance By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 23 2024
0mins
Should l Buy ?
Source: Investing.com
- QinetiQ Financial Performance: QinetiQ's shares surged over 12% in London trading after reporting better-than-expected earnings and revenue for fiscal year 2024.
- Revenue and EBITA: The company posted revenue of £1,912 million, a 2% increase from consensus estimates, with EBITA at £215 million, also 2% above expectations.
- Cash Conversion and Debt: QinetiQ demonstrated robust cash conversion at 104%, resulting in a net debt of £151 million, which is 14% lower than consensus estimates.
- Segment Performance: In the EMEA Services division, organic revenue grew by 19% to £1,417 million, with EBITA at £163.4 million and a margin of 11.5%.
- Future Outlook: QinetiQ is optimistic about fiscal 2025, expecting strong growth in EMEA Services and stable performance in Global Solutions, with analysts predicting positive revenue organically in FY27F.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
