- We expect to see stronger 2H23F net profit for ST Engineering (SGX:S63) with more Urban Solutions & Satcom (USS) projects back-end loaded, with supply chain pressure to be relieved in 4Q23F.
- - Read this at SGinvestors.io -
- 1Q23 revenue of S$2.3bn (-9% q-o-q, +13% y-o-y) was in line at 24% of our and Bloomberg consensus FY23F. ST Engineering declared a quarterly dividend of S$0.04, in line with 1Q22. See ST Engineering's dividend date.
- - Read this at SGinvestors.io -
- quicker passenger-to-freighter (PTF) revenue recognition as ST Engineering progresses on the learning curve.
- We expect CA revenue to be sustained in the remaining quarters.
What does back-end loaded mean?
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
LIM Siew Khee CGS-CIMB Research | Kenneth TAN CGS-CIMB Research | https://www.cgs-cimb.com 2023-05-15
Read also CGS-CIMB's most recent report:
2024-02-12 ST Engineering - Longer-term Growth Drivers Intact.
Previous report by CGS-CIMB:
2023-11-10 ST Engineering - Set For A Stronger FY24.
Price targets by 5 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 Dividends & Corporate Actions,
ST Engineering News Articles
