ZTO shares dip pre-market as logistics firm cuts annual growth forecast

Investing.com2024-11-20

Investing.com -- Shares of ZTO Express (NYSE:ZTO) fell over 3% in pre-market trading after the company revised its annual guidance. ZTO cited challenges in the operating environment, including weaker...

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Cost per parcel is expected to achieve efficiencies on YoY basis. In 2024, we expect full-year non-GAAP earnings to reach RMB10.2bn,” said analysts at Jefferies in a note.The Chinese logistics firm, which had earlier projected robust growth in parcel volume, adjusted its 2024 volume expectations to 33.7-33.9 billion parcels, reflecting a year-over-year increase of 11.6%-12.3%.This marks a reduction from its earlier targets. In a statement, ZTO said that the rising proportion of low-value e-commerce packages has posed new hurdles for maintaining its growth trajectory.Despite the setback, ZTO's third-quarte","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","BK4131":"航空货运与物流","IE00B543WZ88.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) ACC","BK4503":"景林资产持仓","BK4558":"双十一","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","BK4502":"阿里概念","BK4535":"淡马锡持仓","IE00BPRC5H50.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) INC","BK4588":"碎股","IE00B5MMRT66.SGD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (SGDHDG) ACC","BK4505":"高瓴资本持仓","BK4585":"ETF&股票定投概念","ZTO":"中通快递","BK4526":"热门中概股"},"translate_title":"物流公司下调年度增长预期，中通股价盘前下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ZTO":1},"content_text":"Investing.com -- Shares of ZTO Express (NYSE:ZTO) fell over 3% in pre-market trading after the company revised its annual guidance. \nZTO cited challenges in the operating environment, including weaker-than-expected consumer spending and shifts in parcel mix, which impacted its ability to achieve previously forecasted growth.\n“We estimate ASP to grow at about 2.4% YoY, similar to the trend in 3Q24. Cost per parcel is expected to achieve efficiencies on YoY basis. In 2024, we expect full-year non-GAAP earnings to reach RMB10.2bn,” said analysts at Jefferies in a note.\nThe Chinese logistics firm, which had earlier projected robust growth in parcel volume, adjusted its 2024 volume expectations to 33.7-33.9 billion parcels, reflecting a year-over-year increase of 11.6%-12.3%. \nThis marks a reduction from its earlier targets. In a statement, ZTO said that the rising proportion of low-value e-commerce packages has posed new hurdles for maintaining its growth trajectory. \nThe management noted that resource allocation adjustments and pricing strategy changes are underway to address these challenges.\nDespite the setback, ZTO's third-quarter results reported steady operational performance, with parcel volume increasing by 15.9% year-over-year and adjusted net income growing by 2%. \n“The increasing proportion of low-value ecommerce packages presented new challenges to the execution of our overall strategy to achieve continuous and simultaneous growth or improvements in quality of services, volume market share and profit,” said ZTO’s chief financial officer, Huiping Yan.\nRelated Articles\nZTO shares dip pre-market as logistics firm cuts annual growth forecast\nUS stock futures edge higher; Nvidia earnings loom large\nNIO stock down on wider-than-expected Q3 loss, revenue miss","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.2","shortVersion":"4.30.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484191544"}