Stock Analysis

MPC Container Ships Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags

Simply Wall St

March 26, 2024

MPC Container Ships (OB:MPCC) Full Year 2023 Results

Key Financial Results

Revenue: US$711.3m (up 15% from FY 2022).
Net income: US$325.0m (down 25% from FY 2022).
Profit margin: 46% (down from 71% in FY 2022).
EPS: US$0.73 (down from US$0.98 in FY 2022).

revenue-and-expenses-breakdown — OB:MPCC Revenue and Expenses Breakdown March 26th 2024

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

MPC Container Ships Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) missed analyst estimates by 9.3%.

The primary driver behind last 12 months revenue was the South America segment contributing a total revenue of US$216.4m (30% of total revenue). The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$102.7m (53% of total expenses). Explore how MPCC's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to decline by 36% p.a. on average during the next 3 years, while revenues in the Shipping industry in Norway are expected to grow by 1.3%.

Performance of the Norwegian Shipping industry.

The company's shares are down 10% from a week ago.

Risk Analysis

Before you take the next step you should know about the 4 warning signs for MPC Container Ships (1 doesn't sit too well with us!) that we have uncovered.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.