SAIC Motor Second Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Simply Wall St · 09/01 00:43

SAIC Motor (SHSE:600104) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥141.6b (down 22% from 2Q 2023).
  • Net income: CN¥3.91b (down 9.0% from 2Q 2023).
  • Profit margin: 2.8% (up from 2.4% in 2Q 2023). The increase in margin was driven by lower expenses.
  • EPS: CN¥0.34 (down from CN¥0.37 in 2Q 2023).
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SHSE:600104 Earnings and Revenue Growth September 1st 2024

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

SAIC Motor EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 10%. Earnings per share (EPS) exceeded analyst estimates by 28%.

Looking ahead, revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Auto industry in China.

Performance of the Chinese Auto industry.

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

Risk Analysis

You should always think about risks. Case in point, we've spotted 1 warning sign for SAIC Motor you should be aware of.