- The 4th quarter of SATS (SGX:S58)’s financial year tends to be seasonally weak. The q-o-q decline is usually driven by Gateway Services given the drop-off in cargo volumes post-holiday season, though Food Solutions may also see a dip on lower passenger volumes given the lack of major holidays globally during the Jan to Mar period.
- - Read this at SGinvestors.io -
Q-o-q decline going into 4QFY25 may be accentuated by greater exposure to cargo handling and front-loading by importers in anticipation of tariffs
- According to various sources, importers have frontloaded good shipments from China into the US ahead of the new year in anticipation of tariffs against China, as well as to avoid the Lunar New Year celebrations, which were earlier this year. Based on reporting by S&P Global’s Port Import/Export Reporting Service (PIERS), US imports from Asia were up 10.5% (YoY in Oct 2024.
- - Read this at SGinvestors.io -
Revised fair value estimate of S$3.93.
- Read more at SGinvestors.io.
Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.
Ada Lim OCBC Investment Research | https://www.iocbc.com/ 2025-03-18
Previous report by OCBC:
2025-02-24 SATS - Sequential Improvements Clouded By Near-term Turbulence.
Price targets by 3 other brokers at SATS Target Prices.
Listing of research reports at SATS Analyst Reports.
Relevant links:
SATS Share Price History,
SATS Announcements,
SATS Dividend Payout Dates & Corporate Actions,
SATS News
