Focusrite Full Year 2023 Earnings: EPS Misses Expectations

Focusrite (LON:TUNE) Full Year 2023 Results

Key Financial Results

• Revenue: UK£178.5m (down 2.9% from FY 2022).
• Net income: UK£17.8m (down 28% from FY 2022).
• Profit margin: 10.0% (down from 14% in FY 2022). The decrease in margin was primarily driven by lower revenue.
• EPS: UK£0.30 (down from UK£0.42 in FY 2022).

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

Focusrite EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.2%.

Looking ahead, revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Consumer Durables industry in the United Kingdom.

Performance of the British Consumer Durables industry.

The company's shares are down 6.3% 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 Focusrite's balance sheet.

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