Panoramic Resources Full Year 2023 Earnings: Misses Expectations

Panoramic Resources (ASX:PAN) Full Year 2023 Results

Key Financial Results

• Revenue: AU$195.5m (up 116% from FY 2022).
• Net loss: AU$33.2m (down from AU$6.26m profit in FY 2022).
• AU$0.016 loss per share (down from AU$0.003 profit in FY 2022).

PAN Production and Reserves

Nickel

• Production: 5,402 t (3,044 t in FY 2022)
• Proved and probable reserves (ore): 0.68 Mt
• Number of mines: 1 (1 in FY 2022)

Copper

• Production: 3,129 t (1,908 t in FY 2022)
• Proved and probable reserves (ore): 0.68 Mt
• Number of mines: 1 (1 in FY 2022)

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

Panoramic Resources Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) also missed analyst estimates by 85%.

Looking ahead, revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Metals and Mining industry in Australia.

Performance of the Australian Metals and Mining industry.

The company's shares are up 2.1% from a week ago.

Risk Analysis

Be aware that Panoramic Resources is showing 3 warning signs in our investment analysis that you should know about...

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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.