Stock Commentary

JG Summit’s Q2 profit didn’t drop 95%... it went up 335%!

Merkado Barkada
JG Summitâs Q2 profit didnât drop 95%... it went up 335%!

Yesterday, my headline reported that JG Summit [JGS 55.60 1.00%] [link] had delivered a Q2 net income of only P44 million, which I said was a 95% drop from its Q2/21 net income of P815 million. That’s not even close to correct.

My script took the “net income attributable” line from JGS’s 17Q earnings report instead of the “net income after taxes” line, and in a rush, I wasn’t critical enough of that to spot the mistake.

My breakdown of the individual business units is still accurate, as is (I believe) my analysis of how exposed JGS is to inflation and the second-order effects of it, but my headline and the summary numbers about the quarter were just completely off.

I called JGS’s quarter a “dog’s breakfast”, but maybe the real dog’s breakfast was my write-up, and JGS’s quarterly report was just more or less “fine”, but with several worrying points of vulnerability to continued inflationary pressures.


I apologize to you all for my error.

Thank you to Dom for sending me a message to ask some questions about my data.

That got the process of discovery started. Some days, I feel like a guy surrounded by hundreds of scripts in various states of disrepair, but for some reason on this day I decided to just John Daly the results of my scripts (just “grip it and rip it”) without taking a closer look.

Seems like my upcoming break will be the perfect opportunity for me to take a deep dive into my own Google Sheets logic and Python code.

Don't feel bad for me, I love it so much. But sometimes I let myself live with "mostly working" code for too long, and this error tells me that I need to make a few improvements!



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