Yantai Jereh Oilfield Services Group Second Quarter 2024 Earnings: Misses Expectations

Yantai Jereh Oilfield Services Group (SZSE:002353) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥2.83b (down 10.0% from 2Q 2023).
• Net income: CN¥712.9m (up 3.1% from 2Q 2023).
• Profit margin: 25% (up from 22% in 2Q 2023). The increase in margin was driven by lower expenses.
• EPS: CN¥0.70 (up from CN¥0.68 in 2Q 2023).

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

Yantai Jereh Oilfield Services Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) also missed analyst estimates by 21%.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Energy Services industry in China.

Performance of the Chinese Energy Services industry.

The company's shares are down 3.7% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Yantai Jereh Oilfield Services Group, and understanding this should be part of your investment process.

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