KE Holdings Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags

KE Holdings (NYSE:BEKE) Full Year 2024 Results

Key Financial Results

• Revenue: CN¥93.5b (up 20% from FY 2023).
• Net income: CN¥4.06b (down 31% from FY 2023).
• Profit margin: 4.3% (down from 7.6% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: CN¥3.58 (down from CN¥5.01 in FY 2023).

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

KE Holdings Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) missed analyst estimates by 17%.

The primary driver behind last 12 months revenue was the New Home Transaction Services segment contributing a total revenue of CN¥33.7b (36% of total revenue). Notably, cost of sales worth CN¥70.5b amounted to 75% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to CN¥8.96b (47% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CN¥148.4m. Explore how BEKE's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Real Estate industry in the US.

Performance of the American Real Estate industry.

The company's shares are up 3.2% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for KE Holdings that you need to take into consideration.

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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.