BYD First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

BYD (HKG:1211) First Quarter 2024 Results

Key Financial Results

• Revenue: CN¥124.9b (up 4.0% from 1Q 2023).
• Net income: CN¥4.57b (up 11% from 1Q 2023).
• Profit margin: 3.7% (up from 3.4% in 1Q 2023). The increase in margin was driven by higher revenue.
• EPS: CN¥1.57 (up from CN¥1.42 in 1Q 2023).

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

BYD EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) exceeded analyst estimates by 14%.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Auto industry in Hong Kong.

Performance of the Hong Kong Auto industry.

The company's shares are up 10% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on BYD's balance sheet.

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