Stock Analysis

Thungela Resources Full Year 2022 Earnings: EPS Misses Expectations

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Thungela Resources (JSE:TGA) Full Year 2022 Results

Key Financial Results

  • Revenue: R50.8b (up 93% from FY 2021).
  • Net income: R17.0b (up 164% from FY 2021).
  • Profit margin: 34% (up from 25% in FY 2021). The increase in margin was driven by higher revenue.
  • EPS: R127 (up from R61.08 in FY 2021).
JSE:TGA Earnings and Revenue Growth March 29th 2023

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

Thungela Resources EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.3%.

Looking ahead, revenue is expected to fall by 19% p.a. on average during the next 3 years compared to a 2.6% decline forecast for the Oil and Gas industry in Africa.

Performance of the market in South Africa.

The company's shares are down 2.6% from a week ago.

Risk Analysis

It is worth noting though that we have found 3 warning signs for Thungela Resources (1 is a bit unpleasant!) that you need to take into consideration.

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