MMG First Half 2024 Earnings: Misses Expectations

MMG (HKG:1208) First Half 2024 Results

Key Financial Results

• Revenue: US$1.92b (up 1.2% from 1H 2023).
• Net income: US$21.1m (up from US$58.8m loss in 1H 2023).
• Profit margin: 1.1% (up from net loss in 1H 2023). The move to profitability was primarily driven by lower expenses.
• EPS: US$0.002 (up from US$0.007 loss in 1H 2023).

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

MMG Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) also missed analyst estimates by 77%.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Metals and Mining industry in Hong Kong.

Performance of the Hong Kong Metals and Mining industry.

The company's shares are down 2.6% from a week ago.

Risk Analysis

Before you take the next step you should know about the 2 warning signs for MMG (1 can't be ignored!) that we have uncovered.

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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.