West African Resources First Half 2023 Earnings: Revenues Beat Expectations, EPS Lags

West African Resources (ASX:WAF) First Half 2023 Results

Key Financial Results

• Revenue: AU$309.7m (down 3.9% from 1H 2022).
• Net income: AU$74.4m (down 22% from 1H 2022).
• Profit margin: 24% (down from 29% in 1H 2022). The decrease in margin was primarily driven by lower revenue.
• EPS: AU$0.073 (down from AU$0.093 in 1H 2022).

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

West African Resources Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) missed analyst estimates by 10%.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Metals and Mining industry in Australia.

Performance of the Australian Metals and Mining industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for West African Resources that you need to take into consideration.

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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.