Yankey Engineering (6691) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024 was NT$9,952.9 million, down 19% year-over-year, with net income at NT$1,364.5 million, a slight decrease from NT$1,390.4 million in 2023.

• Gross margin improved to 21% from 17% year-over-year, while operating margin rose to 17% from 14% in the same period last year.

• Cash and cash equivalents decreased to NT$2,406.3 million from NT$3,735.7 million at the start of the year.

• The company distributed NT$1,398.2 million in cash dividends and NT$174.8 million in stock dividends in 2024.

Financial highlights

• Revenue for Q3 2024 was NT$3,767.4 million, down 10% from Q3 2023.

• Net income for Q3 2024 was NT$549.4 million, up 9% year-over-year.

• Basic and diluted EPS for the nine months ended September 30, 2024 were NT$13.01 and NT$13.00, respectively.

• Operating cash flow for the nine months was NT$647.8 million, down from NT$795.3 million in 2023.

Outlook and guidance

• Outstanding performance obligations as of September 30, 2024 were NT$40,454.2 million, to be recognized as revenue over the next one to three years.

• Management expects continued revenue recognition from a robust backlog, despite current year declines.