Evergreen Marine Corporation (Taiwan) Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Evergreen Marine Corporation (Taiwan) (TWSE:2603) Third Quarter 2024 Results

Key Financial Results

• Revenue: NT$152.8b (up 110% from 3Q 2023).
• Net income: NT$61.9b (up 183% from 3Q 2023).
• Profit margin: 41% (up from 30% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: NT$28.75 (up from NT$10.35 in 3Q 2023).

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

Evergreen Marine Corporation (Taiwan) EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 13%.

Looking ahead, revenue is forecast to decline by 9.9% p.a. on average during the next 3 years, while revenues in the Shipping industry in Taiwan are expected to remain flat.

Performance of the Taiwanese Shipping industry.

The company's shares are up 4.4% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 2 warning signs for Evergreen Marine Corporation (Taiwan) you should be aware of, and 1 of them makes us a bit uncomfortable.

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