Venture Corp net profit drops 18.3% YoY in 1Q24

Revenue for the period also fell.

Venture Corporation registered a net profit of $60.1m in 1Q24, a decrease of 18.3% YoY.

Net profit margin stood at 9.0% due to its increasing focus on operational execution and productivity enhancements.

The company's revenue also fell 18.9% YoY to $666.7m due to lower overall customer demand amidst remaining headwinds.

The company’s life and science sector and certain segments of its network and communications market saw destocking in 1Q24.

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