Q: Thoughts on the quarter please?
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5i Research Answer:
In the 2Q-2024, IFC reported decent results, EPS came at $4.86, beating the estimate of $3.48. Revenue growth for the quarter is 6% to $5.3B, missing the consensus estimate of $5.57B. Book value per share grew 15% to $88.
Adjusted Return on Equity (ROE) remains healthy, improving to 16.7% from 11.8% in the same quarter last year. The financial position is also solid, debt-to-capital stands around 20%, on par with last year.
Overall, good numbers, and IFC's operating results have been consistent over the years. We think IFC remains one of the better industry operators and like the stock.