- Frencken's 3Q24 earnings of S$9.2m (+29% y-o-y/flat q-o-q) missed our expectations by 16%, with 9M24 earnings forming only 61% of our full-year forecast.
- Frencken expects an uneven recovery for its business but maintains its guidance of better revenue for 2H24 vs 1H24.
Slower-than-expected revenue recovery.
- - Read this at SGinvestors.io -
- Gross margin grew 1.6ppt y-o-y to 14.0% in 3Q24 mainly due to better operating leverage.
Revenue growth across two key segments offset by drop in medical and automotive revenues.
- - Read this at SGinvestors.io -
- The analytical life sciences segment saw higher sales from a key customer in Europe.
Uneven recovery in semiconductor industry but long-term outlook continues to be positive
- 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/.
John Cheong UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-11-20
Previous report by UOB:
2024-10-15 Frencken - Expect Gradual Recovery Across Most Segments.
Price targets by 4 other brokers at Frencken Target Prices.
Listing of research reports at Frencken Analyst Reports.
Relevant links:
Frencken Share Price History,
Frencken Announcements,
Frencken Dividends & Corporate Actions,
Frencken News Articles
