Stock Analysis
ICL Group Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags
ICL Group (TLV:ICL) Full Year 2023 Results
Key Financial Results
- Revenue: US$7.54b (down 25% from FY 2022).
- Net income: US$647.0m (down 70% from FY 2022).
- Profit margin: 8.6% (down from 22% in FY 2022). The decrease in margin was driven by lower revenue.
- EPS: US$0.50 (down from US$1.68 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
ICL Group Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 3.8%.
The primary driver behind last 12 months revenue was the Phosphate Solutions segment contributing a total revenue of US$2.48b (33% of total revenue). Notably, cost of sales worth US$4.87b amounted to 65% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to US$1.09b (54% of total expenses). Explore how ICL's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 12% growth forecast for the Chemicals industry in Asia.
Performance of the market in Israel.
The company's shares are down 9.7% from a week ago.
Risk Analysis
Before we wrap up, we've discovered 3 warning signs for ICL Group (1 is a bit unpleasant!) that you should be aware of.
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About TASE:ICL
ICL Group
Operates as a specialty minerals and chemicals company worldwide.