Stock Analysis
- China
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- Consumer Durables
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- SZSE:000333
Midea Group First Quarter 2024 Earnings: In Line With Expectations
Midea Group (SZSE:000333) First Quarter 2024 Results
Key Financial Results
- Revenue: CN¥106.5b (up 11% from 1Q 2023).
- Net income: CN¥9.00b (up 12% from 1Q 2023).
- Profit margin: 8.5% (up from 8.4% in 1Q 2023). The increase in margin was driven by higher revenue.
- EPS: CN¥1.31 (up from CN¥1.18 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Midea Group Meets Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.
Looking ahead, revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Consumer Durables industry in China.
Performance of the Chinese Consumer Durables industry.
The company's shares are up 2.0% from a week ago.
Balance Sheet Analysis
While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on Midea Group's balance sheet.
Valuation is complex, but we're helping make it simple.
Find out whether Midea Group is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.
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About SZSE:000333
Midea Group
Manufactures and sells home appliances, and robotic and automation systems in China and internationally.
Flawless balance sheet 6 star dividend payer.