TXC (3042) Q3 2024 earnings summary

Executive summary

• Achieved consolidated revenue of $9,344.6 million for the nine months ended September 30, 2024, up 19.7% year-over-year, with net profit of $1,568.4 million, a 20.1% increase from the prior year period.

• Gross margin improved to 36% from 35% year-over-year, reflecting operational efficiency and higher sales volume.

• Completed a private placement of 25 million shares, raising $2,337.5 million to strengthen capital structure and support growth.

• Continued focus on ESG initiatives, with renewable energy utilization rate reaching 9.7% as of Q3 2024.

Financial highlights

• Revenue for Q3 2024 was $3,668.3 million, up 18.9% compared to Q3 2023.

• Net profit for the nine months ended September 30, 2024 was $1,568.4 million, up from $1,305.7 million in the same period last year.

• Basic EPS for the nine months was $4.93, compared to $4.22 for the same period in 2023.

• Operating cash flow for the nine months was $1,850.7 million, with cash and cash equivalents at $4,323.8 million as of September 30, 2024.

• Gross profit for the nine months was $3,355.6 million, up from $2,712.3 million year-over-year.

Outlook and guidance

• Management remains committed to strengthening corporate governance and sustainable development, with ongoing investments in ESG and energy transition.

• The company anticipates meeting the criteria for carbon fee imposition under new regulations, with ongoing efforts to manage compliance and costs.