Elite Material Third Quarter 2024 Earnings: EPS Misses Expectations

Elite Material (TWSE:2383) Third Quarter 2024 Results

Key Financial Results

• Revenue: NT$17.5b (up 47% from 3Q 2023).
• Net income: NT$2.52b (up 24% from 3Q 2023).
• Profit margin: 14% (down from 17% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: NT$7.30 (up from NT$6.04 in 3Q 2023).

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

Elite Material EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.9%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan.

Performance of the Taiwanese Electronic industry.

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

Valuation

Our analysis of these results suggests Elite Material may be undervalued based on 6 important criteria we look at. Discover what analysts are forecasting and how the current share price shapes up by clicking here.

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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.