Riverstone Holdings Full Year 2023 Earnings: EPS Beats Expectations, Revenues Lag

Riverstone Holdings (SGX:AP4) Full Year 2023 Results

Key Financial Results

• Revenue: RM914.8m (down 27% from FY 2022).
• Net income: RM220.4m (down 30% from FY 2022).
• Profit margin: 24% (in line with FY 2022).
• EPS: RM0.15 (down from RM0.21 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Riverstone Holdings EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 6.9%. Earnings per share (EPS) exceeded analyst estimates by 1.9%.

The primary driver behind last 12 months revenue was the Gloves segment contributing a total revenue of RM899.5m (98% of total revenue). Notably, cost of sales worth RM619.3m amounted to 68% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to RM31.3m (42% of total expenses). Explore how AP4's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Medical Equipment industry in Asia.

Performance of the market in Singapore.

The company's shares are down 5.9% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 1 warning sign for Riverstone Holdings you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.