Nigerian Breweries Past Earnings Performance

Past criteria checks 0/6

Nigerian Breweries's earnings have been declining at an average annual rate of -70.3%, while the Beverage industry saw earnings growing at 9.5% annually. Revenues have been growing at an average rate of 16.5% per year.

Key information

-70.3%

Earnings growth rate

-73.2%

EPS growth rate

Beverage Industry Growth	47.0%
Revenue growth rate	16.5%
Return on equity	-1,293.9%
Net Margin	-21.0%
Last Earnings Update	31 Mar 2024

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown
Beta

How Nigerian Breweries makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NGSE:NB Revenue, expenses and earnings (NGN Millions)
Date	Revenue	Earnings	G+A Expenses
31 Mar 24	703,449	-147,682	187,786
31 Dec 23	599,643	-106,308	172,906
30 Sep 23	558,990	-58,763	171,725
30 Jun 23	553,972	-53,154	166,400
31 Mar 23	536,180	-11,145	168,438
31 Dec 22	550,638	13,182	165,747
30 Sep 22	521,453	19,204	158,877
30 Jun 22	502,113	23,671	150,535
31 Mar 22	469,381	18,612	136,884
31 Dec 21	437,285	12,666	124,419
30 Sep 21	412,289	8,639	111,675
30 Jun 21	394,493	9,497	106,879
31 Mar 21	359,564	9,502	95,313
31 Dec 20	337,046	7,363	91,924
30 Sep 20	321,367	10,765	93,869
30 Jun 20	304,626	8,366	95,021
31 Mar 20	322,888	13,585	101,183
31 Dec 19	323,007	16,101	99,402
30 Sep 19	322,002	16,919	97,218
30 Jun 19	321,920	14,317	95,670
31 Mar 19	324,700	17,250	93,998
31 Dec 18	324,389	19,434	92,675
30 Sep 18	327,926	23,823	91,503
30 Jun 18	336,200	27,729	90,876
31 Mar 18	336,234	31,813	88,358
31 Dec 17	344,527	33,044	90,083
30 Sep 17	345,694	32,312	91,341
30 Jun 17	337,357	33,097	88,782
31 Mar 17	327,448	29,394	87,647
31 Dec 16	313,743	28,415	84,585
30 Sep 16	301,704	31,985	85,046
30 Jun 16	299,606	35,588	83,701
31 Mar 16	301,539	38,408	85,442
31 Dec 15	293,906	38,055	83,785
30 Sep 15	286,552	38,874	80,566
30 Jun 15	276,550	40,183	76,887
31 Mar 15	267,318	42,563	72,380
31 Dec 14	266,372	42,520	71,790
30 Sep 14	273,049	46,105	69,959
30 Jun 14	276,294	46,289	70,823
31 Mar 14	273,016	43,724	70,554
31 Dec 13	268,614	43,080	70,155
30 Sep 13	262,202	39,604	68,936
30 Jun 13	261,868	39,329	68,402

Quality Earnings: NB is currently unprofitable.

Growing Profit Margin: NB is currently unprofitable.

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: NB is unprofitable, and losses have increased over the past 5 years at a rate of 70.3% per year.

Accelerating Growth: Unable to compare NB's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: NB is unprofitable, making it difficult to compare its past year earnings growth to the Beverage industry (21.8%).

Return on Equity

High ROE: NB has a negative Return on Equity (-1293.88%), as it is currently unprofitable.

Nigerian Breweries Past Earnings Performance

Past criteria checks 0/6

Key information

Recent past performance updates

First quarter 2024 earnings released: ₦6.27 loss per share (vs ₦1.29 loss in 1Q 2023)

Third quarter 2023 earnings released: ₦1.16 loss per share (vs ₦0.39 loss in 3Q 2022)

First quarter 2023 earnings released: ₦1.29 loss per share (vs ₦1.35 profit in 1Q 2022)

Full year 2022 earnings released: EPS: ₦1.58 (vs ₦1.26 in FY 2021)

Third quarter 2022 earnings released: ₦0.49 loss per share (vs ₦0.06 profit in 3Q 2021)

Second quarter 2022 earnings released: EPS: ₦0.64 (vs ₦0.009 in 2Q 2021)

Recent updates

First quarter 2024 earnings released: ₦6.27 loss per share (vs ₦1.29 loss in 1Q 2023)

Price target decreased by 13% to ₦36.31

Price target decreased by 10% to ₦44.25

Third quarter 2023 earnings released: ₦1.16 loss per share (vs ₦0.39 loss in 3Q 2022)

Price target increased by 8.3% to ₦51.29

First quarter 2023 earnings released: ₦1.29 loss per share (vs ₦1.35 profit in 1Q 2022)

Full year 2022 earnings released: EPS: ₦1.58 (vs ₦1.26 in FY 2021)

Investor sentiment improved over the past week

Price target decreased to ₦44.95

Investor sentiment improved over the past week

Upcoming dividend of ₦0.40 per share

Price target decreased to ₦59.02

Less than half of directors are independent

Third quarter 2022 earnings released: ₦0.49 loss per share (vs ₦0.06 profit in 3Q 2021)

Second quarter 2022 earnings released: EPS: ₦0.64 (vs ₦0.009 in 2Q 2021)

Investor sentiment deteriorated over the past week

Consensus EPS estimates increase by 14%

Price target increased to ₦56.70

Investor sentiment improved over the past week

First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Price target increased to ₦56.16

Less than half of directors are independent

Price target decreased to ₦50.10

Upcoming dividend of ₦1.20 per share

Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind

Consensus forecasts updated

Upcoming dividend of ₦0.40 per share

Third quarter 2021 earnings released: EPS ₦0.06 (vs ₦0.17 in 3Q 2020)

Consensus forecasts updated

Less than half of directors are independent

First quarter 2021 earnings released: EPS ₦0.96 (vs ₦0.72 in 1Q 2020)

Price target raised to ₦48.11

Price target raised to ₦44.76

New 90-day low: ₦53.10

Price target raised to ₦41.97

Market bids up stock over the past week

New 90-day high: ₦56.00

Analysts increase EPS estimates to ₦1.31

Price target raised to ₦39.01

Third quarter earnings released

New 90-day high: ₦42.00

New 90-day low - ₦28.40

Revenue & Expenses BreakdownBeta

Earnings and Revenue History

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Return on Equity

Return on Assets

Return on Capital Employed

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