Aluminum Corporation of China Second Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Aluminum Corporation of China (HKG:2600) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥61.8b (down 8.9% from 2Q 2023).
• Net income: CN¥4.73b (up 205% from 2Q 2023).
• Profit margin: 7.7% (up from 2.3% in 2Q 2023). The increase in margin was driven by lower expenses.
• EPS: CN¥0.28 (up from CN¥0.093 in 2Q 2023).

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

Aluminum Corporation of China EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) exceeded analyst estimates by 41%.

Looking ahead, revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Metals and Mining industry in Hong Kong.

Performance of the Hong Kong Metals and Mining industry.

The company's shares are up 3.4% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for Aluminum Corporation of China that you need to take into consideration.

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