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
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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.
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.
