First Resources' Full Year 2024 Earnings: A Resounding Success

Wow, what a year it's been for First Resources Limited (SGX:EB5)! The palm oil producer has just released its full-year 2024 earnings, and let me tell you, it's been a resounding success. Revenues have beaten expectations, and the company has shown remarkable resilience in the face of market challenges. Let's dive into the key takeaways and explore what makes First Resources such a compelling investment.

First and foremost, First Resources' revenue growth trajectory has been nothing short of impressive. The company's 9M24 results not only beat our expectations but also outperformed the street's. This remarkable performance can be attributed to several key factors:

1. Improved FFB nucleus output: In 3Q24, First Resources' FFB output was resilient, with a 3% year-on-year (y-o-y) and 25% quarter-on-quarter (q-o-q) increase. This improvement in FFB output has significantly contributed to the company's revenue growth.
2. Better processing margins: Apart from the increase in FFB output, First Resources also benefited from improved processing margins in 3Q24. This improvement in margins has further boosted the company's revenue.
3. Higher revenue: As a result of the increased FFB output and improved processing margins, First Resources reported a 2% y-o-y and 3% q-o-q increase in revenue in 3Q24. This positive revenue growth trend is expected to continue in the coming quarters.