Cathay Financial Holding Second Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Cathay Financial Holding (TWSE:2882) Second Quarter 2024 Results

Key Financial Results

• Revenue: NT$202.1b (up 34% from 2Q 2023).
• Net income: NT$33.7b (up 52% from 2Q 2023).
• Profit margin: 17% (up from 15% in 2Q 2023). The increase in margin was driven by higher revenue.
• EPS: NT$2.06 (up from NT$1.51 in 2Q 2023).

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

Cathay Financial Holding EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 35%. Earnings per share (EPS) exceeded analyst estimates by 44%.

Looking ahead, revenue is expected to decline by 36% p.a. on average during the next 3 years, while revenues in the Insurance industry in Asia are expected to grow by 1.6%.

Performance of the market in Taiwan.

The company's shares are down 2.4% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for Cathay Financial Holding that you need to take into consideration.

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