Compagnie Financière Richemont First Half 2023 Earnings: Revenues Beat Expectations, EPS Lags

Compagnie Financière Richemont (VTX:CFR) First Half 2023 Results

Key Financial Results

• Revenue: €9.68b (up 24% from 1H 2022).
• Net income: €2.11b (up 42% from 1H 2022).
• Profit margin: 22% (up from 19% in 1H 2022). The increase in margin was driven by higher revenue.
• EPS: €3.72 (up from €2.63 in 1H 2022).

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

Compagnie Financière Richemont Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates.

Looking ahead, revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Luxury industry in Europe.

Performance of the market in Switzerland.

The company's shares are up 10% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Compagnie Financière Richemont's balance sheet.

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