Phoenix Group Holdings Full Year 2023 Earnings: EPS Beats Expectations, Revenues Lag
Phoenix Group Holdings (LON:PHNX) Full Year 2023 Results
Key Financial Results
Net loss: UK£138.0m (loss narrowed by 93% from FY 2022).
UK£0.14 loss per share (improved from UK£1.85 loss in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Phoenix Group Holdings EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 27%. Earnings per share (EPS) exceeded analyst estimates by 2.2%.
The primary driver behind last 12 months revenue was the Retirement Solutions segment contributing a total revenue of UK£3.75b (19% of total revenue). Notably, cost of sales worth UK£17.8b amounted to 88% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to UK£1.67b (66% of total expenses). Explore how PHNX's revenue and expenses shape its earnings.
Looking ahead, revenue is expected to decline by 24% p.a. on average during the next 3 years, while revenues in the Insurance industry in the United Kingdom are expected to grow by 13%.
Performance of the British Insurance industry.
The company's shares are up 4.9% from a week ago.
Risk Analysis
It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Phoenix Group Holdings, and understanding this should be part of your investment process.
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