Wallenius Wilhelmsen Full Year 2023 Earnings: Misses Expectations

Wallenius Wilhelmsen (OB:WAWI) Full Year 2023 Results

Key Financial Results

• Revenue: US$5.15b (up 2.1% from FY 2022).
• Net income: US$846.0m (up 25% from FY 2022).
• Profit margin: 16% (up from 14% in FY 2022). The increase in margin was primarily driven by higher revenue.
• EPS: US$2.00 (up from US$1.61 in FY 2022).

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

Wallenius Wilhelmsen Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 13%.

The primary driver behind last 12 months revenue was the Shipping Services segment contributing a total revenue of US$3.88b (75% of total revenue). Notably, cost of sales worth US$3.29b amounted to 64% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$577.0m (57% of total expenses). Explore how WAWI's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 1.2% growth forecast for the Shipping industry in Norway.

Performance of the Norwegian Shipping industry.

The company's shares are up 3.7% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for Wallenius Wilhelmsen that you need to take into consideration.

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