Mermaid Maritime (SGX:DU4) Third Quarter 2024 Results

Key Financial Results

• Revenue: ฿5.25b (up 75% from 3Q 2023).
• Net income: ฿37.7m (down 85% from 3Q 2023).
• Profit margin: 0.7% (down from 8.1% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: ฿0.027 (down from ฿0.17 in 3Q 2023).

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

Mermaid Maritime Earnings Insights

Looking ahead, revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Energy Services industry in Asia.

Performance of the market in Singapore.

The company's shares are down 7.9% from a week ago.

Risk Analysis

It is worth noting though that we have found 3 warning signs for Mermaid Maritime (1 is a bit unpleasant!) that you need to take into consideration.

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