Chicony Electronics Second Quarter 2024 Earnings: EPS Beats Expectations

Chicony Electronics (TWSE:2385) Second Quarter 2024 Results

Key Financial Results

• Revenue: NT$24.7b (down 2.7% from 2Q 2023).
• Net income: NT$2.47b (up 37% from 2Q 2023).
• Profit margin: 10.0% (up from 7.1% in 2Q 2023). The increase in margin was driven by lower expenses.
• EPS: NT$3.40 (up from NT$2.50 in 2Q 2023).

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

Chicony Electronics EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 23%.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Tech industry in Taiwan.

Performance of the Taiwanese Tech industry.

The company's shares are up 4.8% from a week ago.

Valuation

Following the latest earnings results, Chicony Electronics may be undervalued based on 6 different valuation benchmarks we assess. You can access our in-depth analysis and discover what the outlook is like for the stock by clicking here.

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