Pakistan Aluminium Beverages Cans Ltd (PABC): 3Q earnings to remain strong, ‘Hold’ call intact – By JS Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We expect Pakistan Aluminium Beverages Cans Ltd (PABC) to report 27% YoY growth in 3QCY24 earnings of Rs1.88bn (EPS: Rs5.22/sh). We do not expect the Company to announce cash dividend during the quarter.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We believe the management is likely to meet its full year revenue target of Rs18bn by 9MCY24, due to rise in Aluminium prices to be passed-on to end-product prices and stronger exports.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We are also scaling up our CY24E EPS by 25% to Rs15.5, reflecting better than expected 2QCY24 and 3QCY4E earnings than forecasted earlier. Meanwhile, we do not rule out th...