Bunzl Full Year 2023 Earnings: EPS Beats Expectations

Bunzl (LON:BNZL) Full Year 2023 Results

Key Financial Results

• Revenue: UK£11.8b (down 2.0% from FY 2022).
• Net income: UK£526.2m (up 11% from FY 2022).
• Profit margin: 4.5% (up from 3.9% in FY 2022). The increase in margin was driven by lower expenses.
• EPS: UK£1.57 (up from UK£1.42 in FY 2022).

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

Bunzl EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.7%.

The primary driver behind last 12 months revenue was the North America segment contributing a total revenue of UK£6.97b (59% of total revenue). Notably, cost of sales worth UK£10.9b amounted to 92% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling UK£284.6m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how BNZL's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Trade Distributors industry in the United Kingdom.

Performance of the British Trade Distributors industry.

The company's shares are down 2.9% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Bunzl that you should be aware of.

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