Inner Mongolia Yili Industrial Group Second Quarter 2024 Earnings: Misses Expectations

Inner Mongolia Yili Industrial Group (SHSE:600887) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥27.3b (down 17% from 2Q 2023).
• Net income: CN¥1.61b (down 40% from 2Q 2023).
• Profit margin: 5.9% (down from 8.2% in 2Q 2023). The decrease in margin was driven by lower revenue.
• EPS: CN¥0.25 (down from CN¥0.42 in 2Q 2023).

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

Inner Mongolia Yili Industrial Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 5.7%. Earnings per share (EPS) also missed analyst estimates by 22%.

Looking ahead, revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Food industry in China.

Performance of the Chinese Food industry.

The company's shares are down 2.4% from a week ago.

Valuation

Inner Mongolia Yili Industrial Group's financial results now indicate the company's shares could present an opportunity based on 6 important indicators. To explore our complete evaluation click here and get an understanding of what analysts are thinking about the company's future.

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