- 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.
- - Read this at SGinvestors.io -
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%.
- - Read this at SGinvestors.io -
Outlook of Glove Industry
- Read more at SGinvestors.io.
Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2024-11-12
Read also RHB's most recent report:
2024-11-13 Riverstone - Growth Remains Intact; Maintain BUY.
Price targets by 2 other brokers at Riverstone Target Prices.
Listing of research reports at Riverstone Analyst Reports.
Relevant links:
Riverstone Share Price History,
Riverstone Announcements,
Riverstone Dividends & Corporate Actions,
Riverstone News Articles
