Oceana Group Full Year 2023 Earnings: EPS Beats Expectations, Revenues Lag

Oceana Group (JSE:OCE) Full Year 2023 Results

Key Financial Results

• Revenue: R9.99b (up 23% from FY 2022).
• Net income: R973.0m (up 29% from FY 2022).
• Profit margin: 9.7% (in line with FY 2022).
• EPS: R8.03 (up from R6.22 in FY 2022).

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

Oceana Group EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) exceeded analyst estimates by 17%.

Looking ahead, revenue is forecast to grow 5.2% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Food industry in South Africa.

Performance of the South African Food industry.

The company's shares are up 8.7% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 1 warning sign for Oceana Group that you should be aware of.

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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.