Press Metal Aluminium's 4Q Earnings May Be Lower on Quarter -- Market Talk

Dow Jones

01-21

0110 GMT - Press Metal Aluminium's 4Q core earnings may be sequentially lower due to several headwinds, Hong Leong IB analyst Brian Chin says in a note. These include higher alumina prices, reduced smelting margins, and a loss of smelter capacity caused by a fire incident, which offset the benefit of higher average aluminium prices. He tips 4Q core earnings to be 2.6%-8.7% lower on quarter at MYR375 million-MYR400 million, but 17%-25% higher on year. Chin believes earnings downside could be supported by record contributions from associate PT Bintan due to strong alumina prices and forex gains. Hong Leong maintains a buy rating on Press Metal with a target price at MYR6.21. Shares are unchanged at MYR4.98. (yingxian.wong@wsj.com)

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January 20, 2025 20:10 ET (01:10 GMT)

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These include higher alumina prices, reduced smelting margins, and a loss of smelter capacity caused by a fire incident, which offset the benefit of higher average aluminium prices. He tips 4Q core earnings to be 2.6%-8.7% lower on quarter at MYR375 million-MYR400 million, but 17%-25% higher on year. Chin believes earnings downside could be supported by record contributions from associate PT Bintan due to strong alumina prices and forex gains. Hong Leong maintains a buy rating on Press Metal with a target price at MYR6.21. Shares are unchanged at MYR4.98. 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These include higher alumina prices, reduced smelting margins, and a loss of smelter capacity caused by a fire incident, which offset the benefit of higher average aluminium prices. He tips 4Q core earnings to be 2.6%-8.7% lower on quarter at MYR375 million-MYR400 million, but 17%-25% higher on year. Chin believes earnings downside could be supported by record contributions from associate PT Bintan due to strong alumina prices and forex gains. Hong Leong maintains a buy rating on Press Metal with a target price at MYR6.21. Shares are unchanged at MYR4.98. 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These include higher alumina prices, reduced smelting margins, and a loss of smelter capacity caused by a fire incident, which offset the benefit of higher average aluminium prices. He tips 4Q core earnings to be 2.6%-8.7% lower on quarter at MYR375 million-MYR400 million, but 17%-25% higher on year. Chin believes earnings downside could be supported by record contributions from associate PT Bintan due to strong alumina prices and forex gains. Hong Leong maintains a buy rating on Press Metal with a target price at MYR6.21. Shares are unchanged at MYR4.98. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"5MD.SI":"顺联"},"translate_title":"Press Metal Aluminium第四季度盈利可能环比下降——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"5MD.SI":1},"content_text":"0110 GMT - Press Metal Aluminium's 4Q core earnings may be sequentially lower due to several headwinds, Hong Leong IB analyst Brian Chin says in a note. These include higher alumina prices, reduced smelting margins, and a loss of smelter capacity caused by a fire incident, which offset the benefit of higher average aluminium prices. He tips 4Q core earnings to be 2.6%-8.7% lower on quarter at MYR375 million-MYR400 million, but 17%-25% higher on year. Chin believes earnings downside could be supported by record contributions from associate PT Bintan due to strong alumina prices and forex gains. Hong Leong maintains a buy rating on Press Metal with a target price at MYR6.21. Shares are unchanged at MYR4.98. (yingxian.wong@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 20, 2025 20:10 ET (01:10 GMT)\n\n\n  Copyright (c) 2025 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":1}}}