ZTO Express (Cayman) Full Year 2023 Earnings: Revenues Disappoint
ZTO Express (Cayman) (NYSE:ZTO) Full Year 2023 Results
Key Financial Results
Revenue: CN¥38.4b (up 8.6% from FY 2022).
Net income: CN¥8.75b (up 28% from FY 2022).
Profit margin: 23% (up from 19% in FY 2022). The increase in margin was driven by higher revenue.
EPS: CN¥10.83 (up from CN¥8.41 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
ZTO Express (Cayman) Revenues Disappoint
Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) was mostly in line with analyst estimates.
In the last 12 months, the only revenue segment was Transportation - Trucking contributing CN¥38.4b. Notably, cost of sales worth CN¥26.8b amounted to 70% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to CN¥2.43b (83% of total expenses). Explore how ZTO's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Logistics industry in the US.
Performance of the American Logistics industry.
The company's shares are up 4.3% from a week ago.
Risk Analysis
It is worth noting though that we have found 1 warning sign for ZTO Express (Cayman) that you need to take into consideration.
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