Flat Glass Group Second Quarter 2024 Earnings: Misses Expectations

Flat Glass Group (HKG:6865) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥4.97b (up 15% from 2Q 2023).
• Net income: CN¥738.7m (up 29% from 2Q 2023).
• Profit margin: 15% (up from 13% in 2Q 2023). The increase in margin was driven by higher revenue.
• EPS: CN¥0.32 (up from CN¥0.27 in 2Q 2023).

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

Flat Glass Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 18%. Earnings per share (EPS) also missed analyst estimates by 24%.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Semiconductor industry in Hong Kong.

Performance of the Hong Kong Semiconductor industry.

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

Risk Analysis

You still need to take note of risks, for example - Flat Glass Group has 1 warning sign we think you should be aware of.

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