Iren Reports Third Quarter 2023 Earnings

Iren (BIT:IRE) Third Quarter 2023 Results

Key Financial Results

• Revenue: €1.47b (down 26% from 3Q 2022).
• Net income: €33.9m (up by €29.5m from 3Q 2022).
• Profit margin: 2.3% (up from 0.2% in 3Q 2022). The increase in margin was driven by lower expenses.
• EPS: €0.026.

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

Iren Earnings Insights

Looking ahead, revenue is forecast to decline by 4.5% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat.

Performance of the market in Italy.

The company's share price is broadly unchanged from a week ago.

Valuation

Our analysis of these results suggests Iren may be undervalued based on 6 important criteria we look at. To explore our complete evaluation click here and get an understanding of what analysts are thinking about the company's future.

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