We expect Wilmar's 2Q24 earnings to be higher q-o-q and y-o-y, which is different from previous years when 2Q is usually lower q-o-q. This is mainly attributed to enhanced operating margin and good sales volume across all segments.
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Maintain HOLD. Buy on weakness.
Anticipate a favourable trajectory for Wilmar's 2Q24 earnings
Based on insights from recent analyst briefings with Wilmar International (SGX:F34) and its subsidiary, Yihai Kerry Arawana (YKA), we anticipate a favourable trajectory for Wilmar's 2Q24 earnings.
Traditionally, 2Q tends to exhibit a decline q-o-q due to decreased sales volume following the festive season. However, we anticipate 2Q24 earnings to be higher q-o-q and y-o-y, attributed to enhanced operating margins and good sales volumes across all segments.
Food products segment
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Industrial and bulks: Expect better sales volume with the hotel, restaurant, and café (HORECA) sector continuing to do well, especially in India and China.
Feed & Industrial Products segment
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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/.
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