TXC (3042) Q2 2024 earnings summary

Executive summary

• Sales revenue for the six months ended June 30, 2024, rose 20% year-over-year to $5,676 million, with net profit up 49% to $1,056 million.

• Gross margin improved to 37% from 34% year-over-year, reflecting higher sales and operational efficiency.

• Total comprehensive income surged to $1,470 million, up from $567 million in the prior year period.

• The company maintained strong ESG and corporate governance initiatives, including new energy management and sustainability measures.

Financial highlights

• Operating income for the six months was $978 million, up 40% year-over-year.

• Earnings per share (EPS) for the six months were $3.40 basic and $3.28 diluted, compared to $2.28 and $2.21, respectively, last year.

• Cash and cash equivalents increased to $5,646 million as of June 30, 2024, from $4,501 million a year earlier.

• Net cash from operating activities was $1,431 million, with a net increase in cash of $1,442 million for the period.

• Total assets reached $21,602 million, up from $19,105 million at June 30, 2023.

Outlook and guidance

• The company is preparing for new IFRS standards effective in 2025 and 2026, with no material impact expected from current changes.

• Ongoing investments in ESG, energy management, and compliance with climate regulations are expected to support sustainable growth.