Trident Second Quarter Results Immediate Release: Trident reported second quarter results on November 6, 2024, revealing the challenging quarter the company faced. Revenue decreased by 4.71% year-on-year, and profit decreased by 8.29% year-on-year.
Compared with the previous quarter, Trident’s revenue fell slightly by 1.71%, but its profit increased significantly by 12.83%. This shows that profitability remains somewhat resilient despite overall revenue declines.
From an expense perspective, selling, general and administrative expenses decreased slightly by 1.31% month-on-month, despite an annual increase of 3.33%, highlighting ongoing cost management challenges.
Operating income increased by 1.03% from the previous quarter, but dropped significantly by 13.08% year-on-year, indicating potential problems with operating efficiency.
Second quarter earnings per share (EPS) were $0.17, an annual decrease of 5.45%, further highlighting the profit pressure faced by the company.
In terms of stock performance, Trident returned 1.57% last week. However, the company faces a more challenging environment, returning -11.38% over the past six months and -5.65% year-to-date.
Currently, Trident has a market capitalization of $17,235.18 Crore, its stock trading volume hit 52-week high $52.9, the lowest is $31.77.
As of November 7, 2024, all analysts covering Trident have a consensus recommendation of Strong Buy, indicating confidence in the company’s long-term growth potential despite challenges this quarter.
