Zhuzhou CRRC Times Electric Second Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Zhuzhou CRRC Times Electric (HKG:3898) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥6.36b (up 16% from 2Q 2023).
• Net income: CN¥939.3m (up 31% from 2Q 2023).
• Profit margin: 15% (up from 13% in 2Q 2023). The increase in margin was driven by higher revenue.
• EPS: CN¥0.67 (up from CN¥0.50 in 2Q 2023).

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

Zhuzhou CRRC Times Electric EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 8.7%. Earnings per share (EPS) exceeded analyst estimates by 13%.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in Hong Kong.

Performance of the Hong Kong Machinery industry.

The company's shares are up 4.7% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on Zhuzhou CRRC Times Electric's balance sheet.

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