Ningbo Haitian Precision MachineryLtd Second Quarter 2024 Earnings: Misses Expectations

Simply Wall St · 08/30 22:07

Ningbo Haitian Precision MachineryLtd (SHSE:601882) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥922.5m (up 1.1% from 2Q 2023).
  • Net income: CN¥163.1m (down 12% from 2Q 2023).
  • Profit margin: 18% (down from 20% in 2Q 2023). The decrease in margin was driven by higher expenses.
  • EPS: CN¥0.31 (down from CN¥0.36 in 2Q 2023).
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SHSE:601882 Earnings and Revenue Growth August 30th 2024

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

Ningbo Haitian Precision MachineryLtd Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 23%.

Looking ahead, revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Machinery industry in China.

Performance of the Chinese Machinery industry.

The company's shares are up 3.0% from a week ago.

Risk Analysis

You should learn about the 1 warning sign we've spotted with Ningbo Haitian Precision MachineryLtd.