ST Engineering - UOB Kay Hian 2022-11-29: 3Q22 Revenue A Slight Miss; Ongoing Review To Uplift Quality Of Group Portfolio

• ST Engineering's 9M22 revenue of S$6.5b was a slight miss, at about 69% of our full-year projection. Orderbook stood at a record high of S$23.1b (excluding the disposed US marine businesses) as of end-3Q22, 71% higher than pre-pandemic levels at end-19.
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ST Engineering (STE) reported 9M22 revenue of S$6.5b (+19% y-o-y).

• ST Engineering (SGX:S63)’s 9M22 revenue of S$6.5b was a slight miss, at 69% of our full-year projection; we believe that the miss was mainly attributable to slightly lower-than-expected non-orderbook-driven revenue.
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Commercial Aerospace (CA) recovery on track; Urban Solutions & Satcomm (USS) revenue still affected by global chip shortage.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-05-13 ST Engineering - Strong Growth Outlook But Valuation On The Rich Side.

Previous report by UOB:
2025-03-19 ST Engineering - Upbeat Growth Outlook With Aggressive 2029 Growth Targets.

Price targets by 4 other brokers at ST Engineering Target Prices.

Listing of research reports at ST Engineering Analyst Reports.

Relevant links:
ST Engineering Share Price History,
ST Engineering Announcements,
ST Engineering Dividend Payout Dates & Corporate Actions,
ST Engineering News