- JG Summit reported a net income of 11 billion pesos in the first quarter (1Q) of 2024.
- The company’s core net income was 12.6 billion pesos, with revenues reaching 96.7 billion pesos.
- Lance Gokongwei, the President and CEO, comments on the need to expand the company’s airline’s capacity to accommodate the increasing demand.
- The first quarter’s margins were boosted through volume growth, controlled input costs, and operating leverage.
- The net income of the 1Q 2024 surpassed half of the total net income from the FY 2023.
- The company saw lower foreign exchange gains during the 1Q while the mark-to-market losses increased.
- A year-over-year increase of 213% was observed in the 1Q core net income, largely due to strong performances in sectors such as food, real estate, and air transport. These segments were positively impacted by the gains from a bank merger.
- The consolidated revenues rose by 18% year-over-year in 1Q 2024.
- 9.9 billion pesos in 2Q dividends are expected from their units, reflecting an 8% year-over-year increase.
- The company shares rose by 2.8% to 32.50 pesos with a turnover of 486,600 shares. There were four buys, two holds, and zero sells.
A look at JG Summit Holdings Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 2 | |
| Growth | 5 | |
| Resilience | 2 | |
| Momentum | 2 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, JG Summit Holdings shows a promising long-term outlook. With a strong score of 5 in Growth, the company is positioned for significant expansion and development in the future. This indicates that JG Summit Holdings is likely to see substantial growth opportunities in its core industries.
On the other hand, scores of 4 in Value suggest that the company is currently trading at an attractive valuation, offering potential for investors seeking undervalued assets. While lower scores in Dividend, Resilience, and Momentum indicate areas where the company may need to focus on improvement, the overall outlook for JG Summit Holdings appears positive due to its high Growth score.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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