Shenzhen Mindray Bio-Medical Electronics Third Quarter 2024 Earnings: Misses Expectations

Shenzhen Mindray Bio-Medical Electronics (SZSE:300760) Third Quarter 2024 Results

Key Financial Results

• Revenue: CN¥8.95b (up 1.4% from 3Q 2023).
• Net income: CN¥3.08b (down 9.3% from 3Q 2023).
• Profit margin: 34% (down from 38% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: CN¥2.54 (down from CN¥2.80 in 3Q 2023).

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

Shenzhen Mindray Bio-Medical Electronics Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 9.4%. Earnings per share (EPS) also missed analyst estimates by 13%.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Medical Equipment industry in China.

Performance of the Chinese Medical Equipment industry.

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

Valuation

It's possible that Shenzhen Mindray Bio-Medical Electronics could be undervalued with our 6-factor valuation analysis indicating a potential opportunity. Click here to view our comprehensive analysis and gain insights into the stock's investment prospects.

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