- ST Engineering (SGX:S63)'s 3Q23 revenue came in at S$2.43bn (-5.5% q-o-q, +13.0% y-o-y), with 9MFY23 revenue of S$7.3bn representing 75% of the street’s full-year estimate, marginally exceeding expectations.
Slightly better-than-expected top line growth.
- - Read this at SGinvestors.io -
- The urban solutions and satcom division also registered healthy top-line growth of 12.5% y-o-y, driven by inorganic growth from TransCore, but offset from sustained softness in its satcom business. Meanwhile, the defence and public security segment booked a modest gain of 2.2% y-o-y.
Orderbook remained near its peak with 3Q23 contract wins of S$2.2bn.
- ST Engineering experienced a slight decrease in its order book to S$27.5bn as of September 2023, down from S$27.7bn in the previous quarter, reflecting a return to normalcy following an exceptionally strong first half of the year.
- - Read this at SGinvestors.io -
Commercial aerospace segment poised for further growth as air traffic continues to rebound.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Jason SUM CFA DBS Group Research | Suvro SARKAR DBS Research | https://www.dbs.com/insightsdirect/ 2023-11-14
Read also DBS's most recent report:
2024-03-01 ST Engineering - Record Profits With Room For Growth.
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
