Avingtrans Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags
Avingtrans (LON:AVG) Full Year 2023 Results
Key Financial Results
Revenue: UK£116.4m (up 16% from FY 2022).
Net income: UK£6.36m (down 1.8% from FY 2022).
Profit margin: 5.5% (down from 6.5% in FY 2022). The decrease in margin was driven by higher expenses.
EPS: UK£0.20 (down from UK£0.20 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Avingtrans Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 6.9%. Earnings per share (EPS) missed analyst estimates by 19%.
The primary driver behind last 12 months revenue was the Energy Engineered Pumps and Motors (Energy EPM) segment contributing a total revenue of UK£64.6m (55% of total revenue). Notably, cost of sales worth UK£78.1m amounted to 67% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to UK£25.9m (81% of total expenses). Explore how AVG's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 4.6% growth forecast for the Machinery industry in the United Kingdom.
Performance of the British Machinery industry.
The company's shares are up 2.5% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 2 warning signs for Avingtrans you should be aware of, and 1 of them doesn't sit too well with us.
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