Riverstone - RHB Invest 2024-11-12: A Commendable Quarter; Maintain BUY

• Riverstone's 3Q24 core earnings grew 33% y-o-y to MYR77.9m, bringing the 9M24 total to 75% and 75% of our and Street full-year estimates. Results are in line, premised on the solid recovery in demand for healthcare and cleanroom gloves.
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Riverstone's 9M24 results overview.

• 9M24 core earnings are in line, underpinned by increased volume sales and a higher ASP. While Riverstone's product mix remains favourable (higher sales contributions from cleanroom and healthcare specialty gloves), gross profit margin contracted by 5.5ppt q-o-q on higher raw material prices (i.e. that of nitrile and natural latex). Core profit margin was flattish q-o-q, at 26.1%.
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Outlook of Glove Industry

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Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Read also RHB's most recent report:
2025-11-11 Riverstone - Cooling Off After The Rally; Downgrade To NEUTRAL.

Previous report by RHB:
2025-08-11 Riverstone - Turning The Corner; Maintain BUY.

Price targets by other brokers at Riverstone Target Prices.

Listing of research reports at Riverstone Analyst Reports.

Relevant links:
Riverstone Share Price History,
Riverstone Announcements,
Riverstone Dividend Payout Dates & Corporate Actions,
Riverstone News