Stock Analysis
Industrial Bank Second Quarter 2024 Earnings: Misses Expectations
Industrial Bank (SHSE:601166) Second Quarter 2024 Results
Key Financial Results
- Revenue: CN¥37.2b (up 5.3% from 2Q 2023).
- Net income: CN¥18.7b (up 27% from 2Q 2023).
- Profit margin: 50% (up from 42% in 2Q 2023). The increase in margin was primarily driven by lower expenses.
- EPS: CN¥0.79 (up from CN¥0.71 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Industrial Bank Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 6.2%. Earnings per share (EPS) also missed analyst estimates by 11%.
Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Banks industry in China.
Performance of the Chinese Banks industry.
The company's shares are up 3.6% from a week ago.
Risk Analysis
We should say that we've discovered 1 warning sign for Industrial Bank that you should be aware of before investing 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.
About SHSE:601166
Industrial Bank
Provides banking services in the People’s Republic of China.