Jinhong GasLtd First Quarter 2024 Earnings: Misses Expectations

Jinhong GasLtd (SHSE:688106) First Quarter 2024 Results

Key Financial Results

• Revenue: CN¥589.4m (up 14% from 1Q 2023).
• Net income: CN¥76.5m (up 27% from 1Q 2023).
• Profit margin: 13% (up from 12% in 1Q 2023). The increase in margin was driven by higher revenue.
• EPS: CN¥0.16 (up from CN¥0.12 in 1Q 2023).

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

Jinhong GasLtd Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 22%.

Looking ahead, revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China.

Performance of the Chinese Chemicals industry.

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

Risk Analysis

It's necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Jinhong GasLtd (at least 1 which doesn't sit too well with us), and understanding them should be part of your investment process.

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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.