Tenaga Nasional Likely to Post Modest 2023 Earnings Rise -- Earnings Preview [MarketWatch]
TENAGA NASIONAL BERHD ADR (TNABY)
NASDAQ:AMEX Investor Relations:
tnb.com.my/contact-us/investor-relations
Company Research
Source: MarketWatch
NET PROFIT FORECAST: The Malaysian power utility is likely to post net profit of 3.53 billion ringgit ($739.0 million) for 2023, according to a median estimate of 15 analysts compiled by FactSet, up from MYR3.46 billion in 2022. Advertisement REVENUE FORECAST: Revenue for the year likely increased to MYR52.89 billion, according to a median estimate of 13 analysts on FactSet. Tenaga posted revenue of MYR50.87 billion in 2022, driven by higher electricity sales. The stock rose 0.5% in the fourth quarter. Year-to-date gains stand at 13%. WHAT TO WATCH: --Tenaga Nasional's fuel margin likely turned positive in the fourth quarter as coal prices stabilized, UOB Kay Hian analyst Chong Lee Len said in a recent research note. That should help buffer against higher year-end expenses from repair and maintenance costs and lift quarterly net profit to MYR1 billion, the brokerage said. Tenaga in November said it expected performance going forward to be stable, helped by Malaysia's overal
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