Porvair Full Year 2023 Earnings: Beats Expectations

Porvair (LON:PRV) Full Year 2023 Results

Key Financial Results

• Revenue: UK£176.0m (up 2.0% from FY 2022).
• Net income: UK£16.0m (up 8.5% from FY 2022).
• Profit margin: 9.1% (up from 8.5% in FY 2022). The increase in margin was driven by higher revenue.
• EPS: UK£0.35 (up from UK£0.32 in FY 2022).

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

Porvair Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 1.8%.

The primary driver behind last 12 months revenue was the Aerospace & Industrial segment contributing a total revenue of UK£67.7m (38% of total revenue). Notably, cost of sales worth UK£113.7m amounted to 65% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to UK£38.9m (84% of total expenses). Explore how PRV's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 6.0% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Machinery industry in the United Kingdom.

Performance of the British Machinery industry.

The company's shares are up 1.3% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of Porvair's balance sheet and an in-depth analysis of the company's financial position.

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