Yangzijiang Shipbuilding (Holdings) Ltd (SGX:BS6) saw its stock price soar 9.09% in pre-market trading on Thursday, following the release of its full-year 2024 financial results. The company's earnings per share (EPS) exceeded analyst estimates, despite revenues falling short of expectations.

The shipbuilding giant reported a significant 62% increase in net income, reaching CN¥6.63 billion for the full year 2024. This translates to an EPS of CN¥1.68, surpassing analyst projections by 3.9%. The company's profit margin also saw a substantial improvement, rising to 25% from 17% in the previous year. These strong bottom-line results appear to have overshadowed the slight miss in revenue, which came in at CN¥26.5 billion, up 10% year-over-year but 6.8% below analyst estimates.

Investors seem particularly encouraged by Yangzijiang Shipbuilding's improved profitability and the positive outlook for the company. Analysts forecast a 15% per annum revenue growth over the next three years, outpacing the 9.9% growth projected for the Singaporean Machinery industry. Despite the stock's 20% decline over the past week, today's surge suggests that market participants are reassessing the company's value in light of its strong earnings performance and future growth potential.