Stock Analysis

Formosa Petrochemical Third Quarter 2024 Earnings: Misses Expectations

TWSE:6505
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Formosa Petrochemical (TWSE:6505) Third Quarter 2024 Results

Key Financial Results

  • Revenue: NT$173.2b (down 10% from 3Q 2023).
  • Net loss: NT$3.08b (down by 118% from NT$17.2b profit in 3Q 2023).
  • NT$0.42 loss per share (down from NT$1.80 profit in 3Q 2023).
earnings-and-revenue-growth
TWSE:6505 Earnings and Revenue Growth November 7th 2024

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

Formosa Petrochemical Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 10%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is forecast to decline by 1.1% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Asia are expected to remain flat.

Performance of the market in Taiwan.

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

Risk Analysis

We don't want to rain on the parade too much, but we did also find 2 warning signs for Formosa Petrochemical (1 is potentially serious!) that you need to be mindful of.

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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.