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Enrique Razon’s ICTSI company recorded robust gains for the 9 month of the year, with a 47% year over year income of $465.1 Million. It said the growth in earnings were due to globally diversified O&D portfolio driving the strong performance.

In summary here are the earnings performance of ICT

Throughput grew 7% to 8.9 million TEUs
Revenues increased 20% to US$1.6 billion
EBITDA 25% higher to US$1.0 billion
Diluted EPS surged 63% to US$0.215

As of this writing prices broke out of its 100 day moving average and is being traded at 188.5/share.

ICT stock price chart

International Container Terminal Services, Inc. (ICTSI) today reported unaudited consolidated financial results for the nine months of 2022 posting revenue from port operations of US$1.64 billion, an increase of 20 percent from the US$1.37 billion reported for the same period in 2021.

Earnings  Before Interest, Taxes, Depreciation and Amortization (EBITDA) of US$1.04 billion, 25 percent higher  than the US$829.4 million generated the first three quarters last year.

Net income attributable to  equity holders of US$465.1 million, 47 percent more than the US$316.4 million earned in the first nine months of 2021 primarily due to higher operating income, net foreign exchange gain, equity share in net profit of joint ventures, and interest income.  

Partially tapered by increase in interest on loans, lease liabilities and concession rights payable, and depreciation and amortization charges.

Diluted earnings per share for the first nine months of 2022 was 63 percent higher at US$0.215 compared to US$0.132 in the same period in 2021.

For the quarter ended September 30, 2022, revenue from port operations increased 20 percent from US$482.4 million to US$576.7 million.

EBITDA was 23 percent higher at US$365.9 million from US$296.9 million; and net income attributable to equity holders was at US$170.7 million, 43 percent more than the US$119.7 million in the same period in 2021.

Diluted earnings per share for the third quarter of 2022 was 55 percent higher at US$0.080 compared to US$0.052 the same period in 2021.

Source: https://edge.pse.com.ph/openDiscViewer.do?edge_no=63a0c3cc9a06a3bb3470cea4b051ca8f

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Joey is the founder of a Philippine Stock Market Youtube channel and also known as “Palaboy Trader”. He does daily review of Trending stocks and teaches basics of Investing and trading. He has the aim to educate Filipinos to be financially independent He is also is an Overseas Filipino Worker Currently working in a Multinational Company in Malaysia

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