CRESUD Q2 Results Soar: Period Results Up 104% to 122.2B ARS
Ticker: CRESY · Form: 6-K · Filed: Feb 8, 2024 · CIK: 1034957
| Field | Detail |
|---|---|
| Company | Cresud INC (CRESY) |
| Form Type | 6-K |
| Filed Date | Feb 8, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: earnings, financial-results, foreign-issuer, growth
TL;DR
**Cresud's six-month results are up big, showing strong growth and more money for shareholders.**
AI Summary
Cresud Inc. (CRESUD) filed a 6-K on February 8, 2024, reporting its financial results for the six-month period ending December 31, 2023. The company announced a significant increase in its 'Results of the period' to 122,205 million ARS, up from 59,907 million ARS in the same period of 2022. This matters to investors because the substantial growth in results, particularly the 48,800 million ARS attributable to controlling company shareholders, indicates strong financial performance and could positively impact stock valuation.
Why It Matters
This filing shows Cresud's financial health is improving significantly, with a more than doubling of its overall period results and a substantial increase in profits attributable to shareholders, which could lead to higher investor confidence and stock price appreciation.
Risk Assessment
Risk Level: low — This filing reports positive financial results, indicating reduced immediate financial risk for the company.
Analyst Insight
A smart investor would view these strong results as a positive indicator of Cresud's operational efficiency and profitability, potentially considering an increase in their position or initiating a new one, while also monitoring future filings for continued growth.
Key Numbers
- $122.2B ARS — Results of the period (6-month) (Represents a 104% increase from the prior year, indicating strong overall financial performance.)
- $48.8B ARS — Attributable to Controlling Shareholders (This is the profit directly benefiting CRESUD's core shareholders, showing a significant increase from $32.9B ARS in the prior year.)
Key Players & Entities
- Cresud Inc. (company) — the registrant filing the 6-K
- Comision Nacional de Valores (company) — Argentine securities regulator where the letter was filed
- Bolsa de Comercio de Buenos Aires (company) — Buenos Aires Stock Exchange where the letter was filed
- 122,205 million ARS (dollar_amount) — Results of the period for the six-month period ending 12/31/2023
- 59,907 million ARS (dollar_amount) — Results of the period for the six-month period ending 12/31/2022
- 48,800 million ARS (dollar_amount) — Results attributable to Shareholders of the controlling company for the six-month period ending 12/31/2023
- 32,929 million ARS (dollar_amount) — Results attributable to Shareholders of the controlling company for the six-month period ending 12/31/2022
- 73,405 million ARS (dollar_amount) — Results attributable to Non-controlling interest for the six-month period ending 12/31/2023
- 26,978 million ARS (dollar_amount) — Results attributable to Non-controlling interest for the six-month period ending 12/31/2022
- February 8, 2024 (date) — date of the 6-K filing and the letter to regulators
Forward-Looking Statements
- Cresud Inc.'s stock price will see a positive reaction due to strong financial results. (Cresud Inc.) — medium confidence, target: 2024-02-15
- Analysts will upgrade their ratings or price targets for Cresud Inc. based on this performance. (Cresud Inc.) — medium confidence, target: 2024-03-01
FAQ
What is the primary purpose of this 6-K filing by Cresud Inc.?
The primary purpose of this 6-K filing is to report the English translation of a letter filed with the Comision Nacional de Valores and Bolsa de Comercio de Buenos Aires on February 8, 2024, which details the company's financial results for the six-month period ending December 31, 2023.
How did Cresud Inc.'s 'Results of the period' for the six-month period ending December 31, 2023, compare to the same period in 2022?
Cresud Inc.'s 'Results of the period' for the six-month period ending December 31, 2023, were 122,205 million ARS, which is a significant increase from 59,907 million ARS reported for the same period ending December 31, 2022.
What portion of the 'Results of the period' for December 31, 2023, was attributable to shareholders of the controlling company?
For the six-month period ending December 31, 2023, 48,800 million ARS of the 'Results of the period' was attributable to shareholders of the controlling company.
What was the amount attributable to non-controlling interest for the six-month period ending December 31, 2023?
The amount attributable to non-controlling interest for the six-month period ending December 31, 2023, was 73,405 million ARS.
When was the letter containing these financial results originally filed with the Argentine regulators?
The letter containing these financial results was originally filed with the Comision Nacional de Valores and Bolsa de Comercio de Buenos Aires on February 8, 2024.
Filing Stats: 1,305 words · 5 min read · ~4 pages · Grade level 13.3 · Accepted 2024-02-08 15:39:11
Filing Documents
- form6k.htm (6-K) — 77KB
- 0001654954-24-001491.txt ( ) — 78KB
SIGNATURES
SIGNATURES     Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Buenos Aires, Argentina.      Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria        By:  /S/ Saúl Zang        Saúl Zang        Responsible for the Relationship with the Markets   February 8 , 2024