Currency Exchange International Second Quarter 2024 Earnings: Misses

Currency Exchange International (TSE:CXI) Second Quarter 2024 Results

Key Financial Results

Revenue: US$20.1m (up 9.5% from 2Q 2023).

Net income: US$506.5k (down 77% from 2Q 2023).

Profit margin: 2.5% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses.

EPS: US$0.079 (down from US$0.35 in 2Q 2023).

earnings-and-revenue-growth

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

Currency Exchange International Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates by 71%.

Looking ahead, revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Consumer Finance industry in North America.

Performance of the market in Canada.

The company’s share price is broadly unchanged 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 Currency Exchange International that you need to be mindful of.

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