Great-West Lifeco Full Year 2023 Earnings: Misses Expectations
Great-West Lifeco (TSE:GWO) Full Year 2023 Results
Key Financial Results
Revenue: CA$41.9b (down 6.4% from FY 2022).
Net income: CA$2.86b (down 11% from FY 2022).
Profit margin: 6.8% (down from 7.2% in FY 2022). The decrease in margin was driven by lower revenue.
EPS: CA$3.07 (down from CA$3.46 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Great-West Lifeco Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 38%. Earnings per share (EPS) also missed analyst estimates by 4.5%.
Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Insurance industry in Canada.
Performance of the Canadian Insurance industry.
The company's shares are down 5.8% from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Great-West Lifeco's balance sheet and an in-depth analysis of the company's financial position.
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