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Lufax Holding (LU)
NYSE:LU
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Earnings Data
Report Date
Mar 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.03Last Year’s EPS
-$1.48Same Quarter Last Year
Moderate Sell
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 21, 2024
|% Change Since: -22.15%
|Next Earnings Date:Mar 11, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with notable growth in consumer finance and improved asset quality, but also significant challenges including decreased income and a quarterly net loss. While there are positive developments such as the acquisition of a new lending license, the financial performance shows areas of concern.Company Guidance
During the third quarter of 2024, Lufax Holding reported a total loan volume of RMB 50.5 billion, marking a 11.7% increase from the previous quarter, despite challenging macroeconomic conditions. The company saw a notable 27.8% year-over-year rise in new consumer finance loans, which represented 52% of total renewal sales. Asset quality remained stable, with the C-M3 flow rate of Puhui loans at 0.9% and a decrease in the NPL ratio of consumer finance loans to 1.2%. Total income declined by 31.1% to RMB 5.5 billion, largely due to a 41.8% reduction in outstanding loan balance, while expenses fell by 19.2% to RMB 6.3 billion. The take rate increased by 1.9 percentage points to 9.7%, driven by an increased proportion of loans under the 100% guarantee model. Despite a net loss of RMB 725 million, Lufax remains optimistic about leveraging its consumer finance and small lending licenses to reduce funding costs and improve its capital management efficiency.Growth in Consumer Finance Business
New consumer finance loans increased by 27.8% year-over-year and accounted for 52% of total renewal sales in the third quarter.
Improved Asset Quality
The asset quality of consumer finance loans stayed strong, with the NPL ratio decreasing to 1.2% from 1.4% in the second quarter.
Decreased Operating Expenses
Total operating expenses declined by 35.9% to RMB 3 billion from RMB 4.7 billion.
Decreased Sales and Marketing Expenses
Sales and marketing expenses decreased by 49.9% to RMB 1.1 billion.
New Nationwide Small Lending License
Lufax acquired a nationwide small lending license in July and provided more than RMB 1 billion in loans under this new license.
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LU Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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LU Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 21, 2024 | $3.16 | $3.03 | -4.11% |
| Aug 21, 2024 | $2.73 | $2.34 | -14.29% |
| Apr 22, 2024 | $2.01 | $2.00 | -0.50% |
| Mar 21, 2024 | $1.55 | $2.25 | +45.16% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Lufax Holding (LU) report earnings?
Lufax Holding (LU) is schdueled to report earning on Mar 11, 2025, TBA Not Confirmed.
What is Lufax Holding (LU) earnings time?
Lufax Holding (LU) earnings time is at Mar 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LU EPS forecast?
LU EPS forecast for the fiscal quarter 2024 (Q4) is -$0.03.
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