ZTO Express (ZTO) Q3 Earnings Top Estimates, Increase Y/Y
Zacks Investment Research | Nov 18, 2019 10:38PM ET
ZTO Express (Cayman) Inc.’s (NYSE:ZTO) third-quarter 2019 earnings (excluding a penny from non-recurring items) of 24 cents per share (RMB 1.69) beat the Zacks Consensus Estimate by 2 cents. The bottom line also improved significantly year over year. Results benefited from impressive parcel volume growth. Notably, the company’s parcel volume expansion was higher than the industry average by 18.4 percentage points.
The top line also rose substantially year over year to $736.7 million (RMB 5,265.8 million), driven by a 26.8% year-over-year rise in revenues from the company’s express delivery services unit.
Express delivery services revenues were boosted by a 45.9% jump in parcel volume to 3,057.9 million. Freight forwarding services (acquired during the fourth quarter of 2017) revenues contributing 5.2% to the top line decreased 5.8% year over year. However, revenues from sales of accessories surged 38.2%, primarily owing to increased sales of thermal paper used for printing digital waybills.
ZTO Express (Cayman) Inc. Price, Consensus and EPS Surprise
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