中煤能源(01898)10月24日大涨5.5%,引发市场高度关注。公司2024年第三季度业绩显示,营业收入同比增长1.2%至474.28亿元,归属股东净利润48.26亿元,同比微降0.6%但环比微增0.2%,扣非净利润47.7亿元,同比减少1%但环比微增0.1%。
具体来看,三季度煤炭业务在高长协订单的保障下,产量和盈利均实现同环比增长。公司商品煤产量达3581万吨,环比增长6%,其中动力煤和焦煤产量分别增长6.6%和0.3%;煤炭单位成本同比下降12.2%,带动自产商品煤单位毛利同比提升5%至270.1元/吨。
此外,公司投资收益环比增长6.6%,所得税率环比下滑2.8个百分点,也助力净利润环比上扬。华创证券分析师表示,尽管煤化工业务环比表现略显疲软,但公司坚实的煤炭主业和获利能力优化仍推动了盈利增长。
值得关注的是,多家机构预计公司一体化的煤炭和煤化工协同经营模式将提升其估值水平。民生证券认为,公司煤炭主业具有内外延展性,叠加高长协订单保障,有望促进公司盈利稳步增长,预计2024-2026年公司净利润将达189.58亿/199亿/214.11亿元,给予"推荐"评级。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.