China Yangtze Power Second Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 09/01 01:56

China Yangtze Power (SHSE:600900) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥19.2b (up 23% from 2Q 2023).
  • Net income: CN¥7.40b (up 40% from 2Q 2023).
  • Profit margin: 39% (up from 34% in 2Q 2023). The increase in margin was driven by higher revenue.
  • EPS: CN¥0.30 (up from CN¥0.21 in 2Q 2023).
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SHSE:600900 Earnings and Revenue Growth September 1st 2024

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

China Yangtze Power Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) also surpassed analyst estimates by 6.4%.

Looking ahead, revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Renewable Energy industry in China.

Performance of the Chinese Renewable Energy industry.

The company's shares are down 1.8% 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 China Yangtze Power, and understanding this should be part of your investment process.