Xinyu Iron & Steel Full Year 2023 Earnings: Misses Expectations

Xinyu Iron & Steel (SHSE:600782) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥71.1b (down 28% from FY 2022).
• Net income: CN¥497.7m (down 52% from FY 2022).
• Profit margin: 0.7% (down from 1.1% in FY 2022). The decrease in margin was driven by lower revenue.
• EPS: CN¥0.16 (down from CN¥0.33 in FY 2022).

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

Xinyu Iron & Steel Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 56%.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 9.6% growth forecast for the Metals and Mining industry in China.

Performance of the Chinese Metals and Mining industry.

The company's shares are up 1.0% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Xinyu Iron & Steel (1 is a bit unpleasant!) that you should be aware of.

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