IOI Corp.'s Earnings Likely to Rise in 1Q on Stronger Output -- Market Talk

Dow Jones

2024-11-14

0126 GMT - IOI Corp.'s fiscal 1Q earnings are likely to be stronger, supported by higher output, improved palm kernel prices and stronger downstream profits, CIMB Securities analysts Ivy Ng Lee Fang and Lim Yue Jia says. They estimate the planter's 1Q core net profit at MYR280 million-MYR320 million, up from MYR242 million in the previous quarter. However, IOI's 1Q earnings could be partly weighed down by weaker profit from its 32%-owned associate Bumitama Agri, the analysts add. Bumitama Agri's potential earnings recovery in the next quarter on stronger production and higher crude palm oil spot prices could bolster IOI's 2Q earnings. The company's 1Q earnings are due Nov. 26. CIMB maintains a buy rating on the stock with a MYR4.38 target price. Shares are unchanged at MYR4.00. (yingxian.wong@wsj.com)

(END) Dow Jones Newswires

November 13, 2024 20:26 ET (01:26 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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They estimate the planter's 1Q core net profit at MYR280 million-MYR320 million, up from MYR242 million in the previous quarter. However, IOI's 1Q earnings could be partly weighed down by weaker profit from its 32%-owned associate Bumitama Agri, the analysts add. Bumitama Agri's potential earnings recovery in the next quarter on stronger production and higher crude palm oil spot prices could bolster IOI's 2Q earnings. The company's 1Q earnings are due Nov. 26. CIMB maintains a buy rating on the stock with a MYR4.38 target price. Shares are unchanged at MYR4.00. 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They estimate the planter's 1Q core net profit at MYR280 million-MYR320 million, up from MYR242 million in the previous quarter. However, IOI's 1Q earnings could be partly weighed down by weaker profit from its 32%-owned associate Bumitama Agri, the analysts add. Bumitama Agri's potential earnings recovery in the next quarter on stronger production and higher crude palm oil spot prices could bolster IOI's 2Q earnings. The company's 1Q earnings are due Nov. 26. CIMB maintains a buy rating on the stock with a MYR4.38 target price. Shares are unchanged at MYR4.00. (yingxian.wong@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 13, 2024 20:26 ET (01:26 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"P8Z.SI","symbol_name":"布米達馬農業","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2483860691","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483860691","pubTimestamp":1731547560,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0126 GMT - IOI Corp.'s fiscal 1Q earnings are likely to be stronger, supported by higher output, improved palm kernel prices and stronger downstream profits, CIMB Securities analysts Ivy Ng Lee Fang and Lim Yue Jia says. They estimate the planter's 1Q core net profit at MYR280 million-MYR320 million, up from MYR242 million in the previous quarter. However, IOI's 1Q earnings could be partly weighed down by weaker profit from its 32%-owned associate Bumitama Agri, the analysts add. Bumitama Agri's potential earnings recovery in the next quarter on stronger production and higher crude palm oil spot prices could bolster IOI's 2Q earnings. The company's 1Q earnings are due Nov. 26. CIMB maintains a buy rating on the stock with a MYR4.38 target price. Shares are unchanged at MYR4.00. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"P8Z.SI":"布米达马农业"},"translate_title":"由于产出强劲，IOI Corp.第一季度盈利可能会增长——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"P8Z.SI":0.9},"content_text":"0126 GMT - IOI Corp.'s fiscal 1Q earnings are likely to be stronger, supported by higher output, improved palm kernel prices and stronger downstream profits, CIMB Securities analysts Ivy Ng Lee Fang and Lim Yue Jia says. They estimate the planter's 1Q core net profit at MYR280 million-MYR320 million, up from MYR242 million in the previous quarter. However, IOI's 1Q earnings could be partly weighed down by weaker profit from its 32%-owned associate Bumitama Agri, the analysts add. Bumitama Agri's potential earnings recovery in the next quarter on stronger production and higher crude palm oil spot prices could bolster IOI's 2Q earnings. The company's 1Q earnings are due Nov. 26. CIMB maintains a buy rating on the stock with a MYR4.38 target price. Shares are unchanged at MYR4.00. (yingxian.wong@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 13, 2024 20:26 ET (01:26 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}