Fortune Electric Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Fortune Electric (TWSE:1519) Second Quarter 2024 Results

Key Financial Results

• Revenue: NT$4.65b (up 50% from 2Q 2023).
• Net income: NT$894.3m (up 65% from 2Q 2023).
• Profit margin: 19% (up from 18% in 2Q 2023). The increase in margin was driven by higher revenue.
• EPS: NT$3.11 (up from NT$1.89 in 2Q 2023).

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

Fortune Electric Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 5.6%. Earnings per share (EPS) missed analyst estimates by 12%.

Looking ahead, revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Electrical industry in Taiwan.

Performance of the Taiwanese Electrical industry.

The company's shares are up 18% from a week ago.

Risk Analysis

You should learn about the 1 warning sign we've spotted with Fortune Electric.

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