{"id":328743,"date":"2024-08-05T00:36:36","date_gmt":"2024-08-04T16:36:36","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=328743"},"modified":"2024-08-05T00:36:38","modified_gmt":"2024-08-04T16:36:38","slug":"trade-the-news-sccs-earnings-down-34-to-p12-6-billion","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-sccs-earnings-down-34-to-p12-6-billion\/","title":{"rendered":"Trade the News: SCC&#8217;s earnings down 34% to P12.6 Billion"},"content":{"rendered":"\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Potential Impact of this News<\/strong><\/td><td><strong>NEGATIVE on the stock price<\/strong><\/td><\/tr><tr><td><strong>Company<\/strong><\/td><td>Semirara Mining and Power Corp.<\/td><\/tr><tr><td><strong>Stock Code<\/strong><\/td><td>SCC<\/td><\/tr><tr><td><strong>Long-term Recommendation on the Stock<\/strong><\/td><td>Hold<\/td><\/tr><tr><td><strong>1-Year Target Price<\/strong><\/td><td>PHP 34.05<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Semirara Mining and Power Corp. (SCC), a subsidiary of DMCI Holdings, saw net income for the first half (1H) of 2024 drop 34% to P12.59 billion, from P19.21 billion in the same period last year, amid higher production costs and lower selling prices of coal and electricity.<\/p>\n\n\n\n<p>In a stock exchange filing on Friday, the company said that revenues in the first six months of 2024 also fell 18% to P36.59 billion from P44.57 billion.<\/p>\n\n\n\n<p>For the second quarter alone, SMPC&#8217;s net income fell by more than half, to P3.73 billion from P7.94 billion last year, while stand-alone revenues shrank 32 percent to P12.81 billion on weaker selling prices despite a slight increase in shipments.<\/p>\n\n\n\n<p>While total coal shipments for the quarter rose 2 percent to 4.6 million metric tons (MMT) from 4.5 MMT amid stronger domestic demand, the average selling price of Semirara coal dropped by a third to P2,780 per metric ton (MT), from P4,151\/MT last year, as market indices stabilized and demand for noncommercial grade coal continued to grow.<\/p>\n\n\n\n<p>From April to June, average Newcastle Index (NEWC) and Indonesian Coal Index 4 (ICI4) both declined by 16%. Overall average selling price (ASP) of electricity decreased by 10%, due to lower spot market prices and fuel costs for baseload plants.<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p style=\"font-size:16px\"><em><em><em>This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about <a href=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/our-partner-brokers\/\">our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-328743","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=328743"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328743\/revisions"}],"predecessor-version":[{"id":328745,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328743\/revisions\/328745"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=328743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=328743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=328743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}