Shandong Weifang Rainbow Chemical Full Year 2023 Earnings: Misses Expectations

Shandong Weifang Rainbow Chemical (SZSE:301035) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥11.5b (down 21% from FY 2022).
• Net income: CN¥772.8m (down 45% from FY 2022).
• Profit margin: 6.7% (down from 9.8% in FY 2022). The decrease in margin was driven by lower revenue.
• EPS: CN¥2.79 (down from CN¥5.12 in FY 2022).

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

Shandong Weifang Rainbow Chemical Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 34%.

Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Chemicals industry in China.

Performance of the Chinese Chemicals industry.

The company's shares are down 11% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Shandong Weifang Rainbow Chemical that you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.