JG Summit Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 10, 2022 at 07:28 pm EST
JG Summit Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was PHP 7,816.14 million compared to PHP 4,539.6 million a year ago. Revenue was PHP 73,719.82 million compared to PHP 50,410.98 million a year ago. Net income was PHP 1,890.27 million compared to net loss of PHP 3,375.24 million a year ago. Basic earnings per share was PHP 0.25 compared to basic loss per share of PHP 0.45 a year ago. Diluted earnings per share was PHP 0.25.
For the nine months, sales was PHP 34,435.04 million compared to PHP 30,112.41 million a year ago. Revenue was PHP 224,796.91 million compared to PHP 167,903.07 million a year ago. Net loss was PHP 858.98 million compared to PHP 2,438.55 million a year ago. Basic loss per share was PHP 0.11 compared to PHP 0.32 a year ago.
JG Summit Holdings, Inc. is a holding company for a group of companies with substantial business interests in branded consumer foods, agro-industrial and commodity food products, real estate and hotel, air transportation, banking and financial services, and petrochemicals. It also has core investments in telecommunications and power generation and distribution. The Foods, Agro-Industrial and Commodities businesses segment is engaged in manufacturing and distribution of a diverse mix of salty snacks, chocolates, candies, biscuits, bakery products, beverages and others. The Air Transportation segment include air transport services, both domestic and international, for passengers and cargos, and line and light maintenance services. The Petrochemicals segment is a manufacturer of polyethylene (PE), polypropylene (PP), polymer grade ethylene, polymer grade propylene, partially hydrogenated pyrolysis gasoline, pyrolysis fuel oil, aromatics, butadiene and liquefied petroleum gas (LPG).