UMS Integration - UOB Kay Hian 2024-11-12: 3Q24 Earnings Still Below Expectations Due To Slow Ramp-up Of New Customer

• UMS Integration (SGX:558) reported 3Q24 earnings of S$10m (-32% y-o-y/+12% q-o-q), which are below expectations, with 9M24 earnings meeting only 69% of our full-year estimate.
• UMS's interim dividend for 3Q24 was lowered by 20% y-o-y to 1.0 cents. The weak results imply that the indicative orders from Lam Research have not come through meaningfully yet.

3Q24 revenue declined 9% y-o-y due to weaker semiconductor segment.

• - Read this at SGinvestors.io -
• - Read this at SGinvestors.io -
• Sales in Singapore slumped 14% y-o-y due to lower semiconductor component sales.
• Revenue from Taiwan fell 35% y-o-y on lower sales of component spares.

UMS expects market uncertainties to continue.

• Read more at SGinvestors.io.

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/.

Read also UOB's most recent report:
2026-03-03 UMS Integration - Winner Of Super Semiconductor Upcycle.

Previous report by UOB:
2025-11-11 UMS Integration - 3Q25 Results Below Expectations; Expect Gradual Improvement.

Price targets by 3 other brokers at UMS Target Prices.

Listing of research reports at UMS Analyst Reports.

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