ZTO EXPRESS-Why Is ZTO Express Cayman (ZTO) Up 5.2% Since Last Earnings Report?

Core Insights - ZTO Express (Cayman) Inc. has seen a 5.2% increase in shares since the last earnings report, outperforming the S&P 500 [1] Financial Performance - For Q2 2024, ZTO Express reported earnings of 47 cents per share, an improvement year over year, with total revenues reaching $1.475 billion [2] - The core express delivery business revenues grew by 10.4% year over year, driven by a 10.1% increase in parcel volume and stable parcel unit prices [3] - KA revenues surged by 73.9%, reflecting a growing proportion of higher-value customers [3] - Revenues from freight forwarding services declined by 2.4% year over year [3] - Accessory sales, primarily thermal paper for digital waybills, increased by 24.1% year over year [3] - Gross profit rose by 9.6% compared to the previous year, although the gross margin rate slightly decreased to 33.8% from 33.9% [3] Operating Expenses and Cash Position - Total operating expenses were reported at RMB405.3 million ($ 55.8 million), down from RMB425.7 million in the previous year [4] - Cash and cash equivalents at the end of Q2 2024 stood at RMB10.54 billion, a decrease from RMB12.58 billion at the end of Q1 2024 [4] Future Guidance - ZTO Express anticipates parcel volumes for 2024 to be between 34.73 billion and 35.64 billion, indicating a year-over-year increase of 15-18% [5] Analyst Reactions - There have been no earnings estimate revisions from analysts in the past two months [6]