While analysts anticipate a decline in overall earnings of listed businesses both year-over-year and quarter-over-quarter in 2Q23, they have chosen a few of stocks, including ADVANC, SCB, and BEM, that are anticipated to show outstanding quarterly performance results.
Asia Plus Securities released their second-quarter earnings forecast for the market on Monday, predicting a decline in earnings both quarter-over-quarter and year-over-year owing to decreased profit margins seen by most sectors between April and June, which is regarded as a low season, while 2Q22 profit base was high at THB355 billion due to high oil price of US$110-120.
Estimates from Asia Plus indicate that ADVANC, INTUCH, PTTEP, KTB, BBL, SCB, and TTB will all report higher quarterly and annual earnings in 2Q23.
In the meantime, the Bloomberg consensus forecasts that the 2Q23 earnings of these 25 companies; KBANK, KTB, BBL, ADVANC, GULF, CPAXT, SCGP, GPSC, HMPRO, BJC, SAWAD, BEM, WHA, BTS, MC, JMT, M, HANA, CK, STEC, SAPPE, ICHI, PLANB, SYNEX and SNNP, will increase both quarter-over-quarter and year-over-year. Among these equities, Asia Plus favors ADVANC, GULF, SCGP, GPSC, BEM, JMT, CK, and PLANB.
However, Bloomberg consensus anticipates these businesses’ 2Q23 profits to fall QoQ (e.g., AWC, DOHOME, AEONTS, GFPT, GLOBAL, KTC).
As the earnings report season for 2Q23 is soon approaching, Asia Plus suggests investors to be selective buying or speculating, favoring stocks with strong 2Q23 profits for superb immunity.
