Wesfarmers Full Year 2024 Earnings: In Line With Expectations

editorial-team@simplywallst.com (Simply Wall St)

Fri, Aug 30, 2024, 2:36 PM 1 min read

Wesfarmers (ASX:WES) Full Year 2024 Results

Key Financial Results

Revenue: AU$44.2b (up 1.5% from FY 2023).
Net income: AU$2.56b (up 3.7% from FY 2023).
Profit margin: 5.8% (up from 5.7% in FY 2023). The increase in margin was driven by higher revenue.
EPS: AU$2.26 (up from AU$2.18 in FY 2023).

revenue-and-expenses-breakdown — ASX:WES Revenue and Expenses Breakdown August 30th 2024

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

Wesfarmers Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

The primary driver behind last 12 months revenue was the Bunnings segment contributing a total revenue of AU$19.0b (43% of total revenue). Notably, cost of sales worth AU$29.1b amounted to 66% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to AU$7.19b (58% of total expenses). Explore how WES's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Multiline Retail industry in Australia.

Performance of the Australian Multiline Retail industry.

The company's shares are down 4.7% from a week ago.

Valuation

It's possible that Wesfarmers could be overvalued with our 6-factor valuation analysis indicating potential weakness. Discover what analysts are forecasting and how the current share price shapes up by clicking here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.