Magellan Financial Group Full Year 2023 Earnings: Beats Expectations

Magellan Financial Group (ASX:MFG) Full Year 2023 Results

Key Financial Results

• Revenue: AU$430.8m (down 22% from FY 2022).
• Net income: AU$182.7m (down 52% from FY 2022).
• Profit margin: 42% (down from 70% in FY 2022). The decrease in margin was primarily driven by higher expenses.
• EPS: AU$1.00 (down from AU$2.07 in FY 2022).

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

Magellan Financial Group Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) also surpassed analyst estimates by 4.9%.

Looking ahead, revenue is expected to decline by 19% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Australia are expected to grow by 2.9%.

Performance of the Australian Capital Markets industry.

The company's shares are up 6.3% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 3 warning signs for Magellan Financial Group (1 is a bit concerning) you should be aware of.

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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.