Kindred Group Third Quarter 2023 Earnings: Misses Expectations

Kindred Group (STO:KIND SDB) Third Quarter 2023 Results

Key Financial Results

• Revenue: UK£283.9m (up 2.2% from 3Q 2022).
• Net income: UK£12.4m (down 79% from 3Q 2022).
• Profit margin: 4.4% (down from 21% in 3Q 2022). The decrease in margin was driven by higher expenses.
• EPS: UK£0.06 (down from UK£0.26 in 3Q 2022).

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

Kindred Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 7.8%. Earnings per share (EPS) also missed analyst estimates by 48%.

Looking ahead, revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in Sweden.

Performance of the Swedish Hospitality industry.

The company's shares are down 7.9% from a week ago.

Valuation

Following the latest earnings results, Kindred Group may be undervalued based on 6 different valuation benchmarks we assess. Discover what analysts are forecasting and how the current share price shapes up by clicking here.

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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.