Pacific Basin Shipping (HKG:2343) Full Year 2024 Results
Key Financial Results
- Revenue: US$2.58b (up 12% from FY 2023).
- Net income: US$131.7m (up 20% from FY 2023).
- Profit margin: 5.1% (up from 4.8% in FY 2023). The increase in margin was driven by higher revenue.
- EPS: US$0.025 (up from US$0.021 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Pacific Basin Shipping Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 5.1%. Earnings per share (EPS) missed analyst estimates by 1.6%.
In the last 12 months, the only revenue segment was Provision of Dry Bulk Shipping Services contributing US$2.58b. Notably, cost of sales worth US$2.45b amounted to 95% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$6.01m (100% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$2.47m. Explore how 2343's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 3.7% decline forecast for the Shipping industry in Hong Kong.
Performance of the Hong Kong Shipping industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
Before we wrap up, we've discovered 1 warning sign for Pacific Basin Shipping that you should be aware of.
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.