- 3Q is usually the strongest quarter for Wilmar but weaker sugar contributions and muted margins across most segments could result in flat to marginal q-o-q and y-o-y growth for 3Q24.
- - Read this at SGinvestors.io -
3Q24 preview: Flattish or marginal growth expected.
- Wilmar International is scheduled to release its 3Q24 executive financial summary on 30 Oct 24 after trading hours (See Earnings Calendar). We expect a core net profit of US$315m-325m (vs 3Q23: US$323m; 2Q24: US$278m). Though volumes are expected to improve, historically high 3Q earnings may not be achieved due to the following factors:
Food products.
- - Read this at SGinvestors.io -
Feed and industrial products.
- Palm downstream processing margins remain muted from higher feedstock prices and weak demand for refined palm oil products. Soybean crushing margins saw an uptick q-o-q on higher demand for soybean meal, but are still lower y-o-y.
- Sugar processing remains a bright spot, albeit its relatively small contributions, as sugar prices rose on the lower yield in Brazil from droughts and fires.
Plantation and sugar mill.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Heidi Mo UOB Kay Hian Research | Llelleythan Tan Yi Rong UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-10-18
Previous report by UOB:
2024-08-16 Wilmar International - More Positive Outlook For 2H24 Following Briefing.
Price targets by 3 other brokers at Wilmar Target Prices.
Listing of research reports at Wilmar Analyst Reports.
Relevant links:
Wilmar Share Price History,
Wilmar Announcements,
Wilmar Dividends & Corporate Actions,
Wilmar News Articles
