Hoymiles Power Electronics Third Quarter 2024 Earnings: Misses Expectations

Hoymiles Power Electronics (SHSE:688032) Third Quarter 2024 Results

Key Financial Results

• Revenue: CN¥358.0m (up 4.4% from 3Q 2023).
• Net income: CN¥58.0m (down 13% from 3Q 2023).
• Profit margin: 16% (down from 20% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: CN¥0.47 (down from CN¥0.54 in 3Q 2023).

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

Hoymiles Power Electronics Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 34%. Earnings per share (EPS) also missed analyst estimates by 43%.

Looking ahead, revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electrical industry in China.

Performance of the Chinese Electrical industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for Hoymiles Power Electronics (2 make us uncomfortable!) that you need to be mindful of.

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