Greenland Technologies Q2 revenue rises 38% on higher sales volume
GTEC•Overview
- China drivetrain systems maker's Q2 revenue rose 38% yr/yr, driven by higher sales volume
- Q2 net income reached $4.9 mln, reversing a net loss in the prior-year period
- Gross margin expanded to 31.9% from 26.5%, reflecting shift to higher-value products
Outlook and result drivers
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Company did not provide specific guidance for future quarters or the full year in the press release
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Higher sales volume - Co said increased sales volume of transmission products was the main driver of revenue growth
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Product mix shift - Co said a shift toward higher-value and more sophisticated products, including hydraulic transmission products, contributed to gross profit and margin expansion
Key details and analyst coverage
| Metric | Actual | Consensus Estimate |
|---|---|---|
| Q2 Revenue | $29.90 mln | |
| Q2 Net Income | $4.90 mln | |
| Q2 Gross Margin | 31.90% | |
| Q2 Gross Profit | $9.50 mln | |
| Q2 Income from Operations | $6 mln |
