Market Insight | TECHTRONIC IND Surges Over 4% as First-Half Performance Slightly Beats Expectations, Prospects of US Real Estate Recovery Expected to Drive Industry Prosperity Upwards

Zhitong
2024.08.16 07:03
portai
I'm PortAI, I can summarize articles.

Techtronic Industries Company Limited has risen by over 4%, as of the time of publication, it has increased by 3.92% to HKD 103.5, with a turnover of HKD 6.53 billion. In terms of news, Techtronic Industries recently released its performance for the 6-month period ending on June 30, 2024, with a revenue of USD 7.312 billion, a year-on-year increase of 6.3%; net profit attributable to shareholders was USD 550 million, a year-on-year increase of 15.7%; earnings per share were 30.12 US cents; and a proposed interim dividend of 13.9 US cents per share. Bank of America Securities stated that Techtronic Industries' performance in the first half of the year slightly exceeded expectations. Guohai Securities indicated that the long-term fixed mortgage rates in the United States are still at a high level, and the high-interest rate environment still restricts the property transaction population. The bank is optimistic that the company will benefit from interest rate cuts in the second half of the year and the recovery of demand in the U.S. real estate chain, with orders having strong certainty. Open Source Securities pointed out that the recovery of the U.S. real estate market is expected to drive the prosperity of the power tool industry, coupled with the company's own efficiency improvement driving net profit release. At the same time, the company's brand premium ability and global production capacity layout are expected to alleviate potential tariff concerns to a greater extent

According to the Wise Finance APP, Techtronic Industries (00669) is currently up more than 4%, as of the time of publication, it is up 3.92% to HKD 103.5, with a turnover of HKD 6.53 billion.

On the news front, Techtronic Industries recently released its performance for the six-month period ending June 30, 2024, with revenue of USD 7.312 billion, a year-on-year increase of 6.3%; attributable profit to shareholders of USD 550 million, a year-on-year increase of 15.7%; earnings per share of 30.12 US cents; and a proposed interim dividend of 13.9 US cents per share. Bank of America Securities stated that Techtronic Industries' performance in the first half of the year slightly exceeded expectations.

Guohai Securities stated that the long-term fixed mortgage rates in the United States are still at high levels, and the high interest rate environment still restricts the property transaction population. The bank is optimistic about the company benefiting from interest rate cuts in the second half of the year and the recovery of demand in the U.S. real estate chain, with orders having strong certainty. Open Source Securities pointed out that the recovery of the U.S. real estate market is expected to drive the prosperity of the power tools industry, coupled with the company's own efficiency improvement driving net profit release. At the same time, the company's brand premium ability and global production capacity layout are expected to alleviate potential tariff concerns to a greater extent

Source: Zhitong The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.