Sincere Navigation Third Quarter 2024 Earnings: Misses Expectations

Sincere Navigation (TWSE:2605) Third Quarter 2024 Results

Key Financial Results

• Revenue: NT$1.10b (up 3.1% from 3Q 2023).
• Net income: NT$255.6m (up 146% from 3Q 2023).
• Profit margin: 23% (up from 9.7% in 3Q 2023). The increase in margin was primarily driven by lower expenses.
• EPS: NT$0.44 (up from NT$0.18 in 3Q 2023).

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

Sincere Navigation Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 6.1%. Earnings per share (EPS) also missed analyst estimates by 16%.

Looking ahead, revenue is forecast to grow 3.9% p.a. on average during the next 2 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 4.6% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Sincere Navigation, and understanding it should be part of your investment process.

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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.