Samsung Heavy Industries Third Quarter 2024 Earnings: Revenues Disappoint

Samsung Heavy Industries (KRX:010140) Third Quarter 2024 Results

Key Financial Results

• Revenue: ₩2.32t (up 15% from 3Q 2023).
• Net income: ₩74.0b (up 94% from 3Q 2023).
• Profit margin: 3.2% (up from 1.9% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: ₩87.00 (up from ₩45.00 in 3Q 2023).

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

Samsung Heavy Industries Revenues Disappoint

Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Machinery industry in South Korea.

Performance of the South Korean Machinery industry.

The company's shares are up 6.0% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Samsung Heavy Industries' balance sheet and an in-depth analysis of the company's financial position.

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