Stock Analysis

Pacific Basin Shipping Full Year 2022 Earnings: Revenues Beat Expectations, EPS Lags

Source: Shutterstock

Pacific Basin Shipping (HKG:2343) Full Year 2022 Results

Key Financial Results

  • Revenue: US$3.28b (up 10% from FY 2021).
  • Net income: US$701.9m (down 17% from FY 2021).
  • Profit margin: 21% (down from 28% in FY 2021). The decrease in margin was driven by higher expenses.
  • EPS: US$0.14 (down from US$0.18 in FY 2021).
SEHK:2343 Earnings and Revenue Growth March 17th 2023

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

Pacific Basin Shipping Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) missed analyst estimates by 1.5%.

Looking ahead, revenue is expected to fall by 7.3% p.a. on average during the next 3 years compared to a 18% decline forecast for the Shipping industry in Asia.

Performance of the market in Hong Kong.

The company's shares are down 2.6% from a week ago.

Risk Analysis

It's necessary to consider the ever-present spectre of investment risk. We've identified 3 warning signs with Pacific Basin Shipping (at least 1 which doesn't sit too well with us), and understanding them should be part of your investment process.

Valuation is complex, but we're helping make it simple.

Find out whether Pacific Basin Shipping is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

View the Free Analysis