Formosa Plastics First Quarter 2024 Earnings: EPS: NT$0.06 (vs NT$0.37 in 1Q 2023)

Formosa Plastics (TWSE:1301) First Quarter 2024 Results

Key Financial Results

• Revenue: NT$48.1b (down 7.9% from 1Q 2023).
• Net income: NT$220.9m (down 91% from 1Q 2023).
• Profit margin: 0.5% (down from 4.5% in 1Q 2023). The decrease in margin was driven by lower revenue.
• EPS: NT$0.06 (down from NT$0.37 in 1Q 2023).

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

Formosa Plastics Earnings Insights

Looking ahead, revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Chemicals industry in Taiwan.

Performance of the Taiwanese Chemicals industry.

The company's shares are down 1.6% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Formosa Plastics has 2 warning signs (and 1 which shouldn't be ignored) we think you should know about.

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