Gem Diamonds Full Year 2023 Earnings: Misses Expectations

Gem Diamonds (LON:GEMD) Full Year 2023 Results

Key Financial Results

• Revenue: US$140.3m (down 26% from FY 2022).
• Net loss: US$2.13m (down by 121% from US$10.2m profit in FY 2022).
• US$0.015 loss per share (down from US$0.073 profit in FY 2022).

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

Gem Diamonds Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 8.9%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is forecast to grow 4.1% p.a. on average during the next 2 years, compared to a 1.0% growth forecast for the Metals and Mining industry in the United Kingdom.

Performance of the British Metals and Mining industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Gem Diamonds that you should be aware of.

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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.