Galaxy Entertainment Group Full Year 2023 Earnings: Misses Expectations

Galaxy Entertainment Group (HKG:27) Full Year 2023 Results

Key Financial Results

• Revenue: HK$35.7b (up 209% from FY 2022).
• Net income: HK$6.83b (up from HK$3.43b loss in FY 2022).
• Profit margin: 19% (up from net loss in FY 2022). The move to profitability was driven by higher revenue.
• EPS: HK$1.56 (up from HK$0.79 loss in FY 2022).

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

Galaxy Entertainment Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 12%.

The primary driver behind last 12 months revenue was the Gaming and Entertainment segment contributing a total revenue of HK$32.7b (92% of total revenue). Over the last 12 months, the company's earnings were enhanced by non-operating gains of HK$482.0m. Explore how 27's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in Hong Kong.

Performance of the Hong Kong Hospitality industry.

The company's shares are down 2.0% 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. See our latest analysis on Galaxy Entertainment Group's balance sheet health.

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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.