Yang Ming Marine Transport Full Year 2023 Earnings: EPS Misses Expectations

Yang Ming Marine Transport (TWSE:2609) Full Year 2023 Results

Key Financial Results

• Revenue: NT$140.6b (down 63% from FY 2022).
• Net income: NT$4.77b (down 97% from FY 2022).
• Profit margin: 3.4% (down from 48% in FY 2022). The decrease in margin was driven by lower revenue.
• EPS: NT$1.37 (down from NT$51.71 in FY 2022).

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

Yang Ming Marine Transport EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%.

Looking ahead, revenue is expected to fall by 2.6% p.a. on average during the next 2 years compared to a 4.8% decline forecast for the Shipping industry in Taiwan.

Performance of the Taiwanese Shipping industry.

The company's shares are down 2.3% from a week ago.

Risk Analysis

Be aware that Yang Ming Marine Transport is showing 4 warning signs in our investment analysis and 2 of those shouldn't be ignored...

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