Rio Tinto Group Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags

Rio Tinto Group (LON:RIO) Full Year 2023 Results

Key Financial Results

• Revenue: US$54.0b (down 2.7% from FY 2022).
• Net income: US$10.1b (down 19% from FY 2022).
• Profit margin: 19% (down from 22% in FY 2022). The decrease in margin was primarily driven by lower revenue.
• EPS: US$8.04 (down from US$9.92 in FY 2022).

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

Rio Tinto Group Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 12%.

Looking ahead, revenue is forecast to decline by 1.1% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in the United Kingdom are expected to remain flat.

Performance of the British Metals and Mining industry.

The company's shares are down 3.0% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Rio Tinto Group 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.