Angang Steel (HKG:347) Second Quarter 2024 Results
Key Financial Results
- Revenue: CN¥28.1b (flat on 2Q 2023).
- Net loss: CN¥1.03b (loss narrowed by 14% from 2Q 2023).
- CN¥0.11 loss per share (improved from CN¥0.13 loss in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Angang Steel Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 20%.
Looking ahead, revenue is expected to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Hong Kong are expected to grow by 7.7%.
Performance of the Hong Kong Metals and Mining industry.
The company's shares are up 1.8% from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Angang Steel's balance sheet and an in-depth analysis of the company's financial position.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.