Swire Pacific Full Year 2023 Earnings: EPS Beats Expectations, Revenues Lag

Swire Pacific (HKG:19) Full Year 2023 Results

Key Financial Results

• Revenue: HK$94.8b (up 4.0% from FY 2022).
• Net income: HK$28.9b (up by HK$25.0b from FY 2022).
• Profit margin: 30% (up from 4.2% in FY 2022).
• EPS: HK$19.96 (up from HK$2.57 in FY 2022).

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

Swire Pacific EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) exceeded analyst estimates by 29%.

The primary driver behind last 12 months revenue was the Beverages segment contributing a total revenue of HK$51.8b (55% of total revenue). Notably, cost of sales worth HK$59.7b amounted to 63% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to HK$15.0b (64% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of HK$17.3b. Explore how 19's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Real Estate industry in Hong Kong.

Performance of the Hong Kong Real Estate industry.

The company's shares are down 4.8% from a week ago.

Valuation

If you are seeking undervalued stocks, our analysis of 6 valuation measures indicates Swire Pacific could be a good place to look. To access our thorough examination of analyst consensus click here and discover the expected future direction of the company.

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