KINGSWAY FINANCIAL SERVICES Reports Q2 FY2023 Earnings on June 30th, 2023
August 16, 2023
🌥️Earnings Overview
On June 30 2023, KINGSWAY FINANCIAL SERVICES ($NYSE:KFS) announced their second quarter Fiscal Year 2023 earnings results. Total revenue for the quarter totaled USD 28.3 million, representing an increase of 1.7% compared to the same quarter in the prior year. Net income for the quarter, however, decreased from -2.7 million to -1.4 million year-on-year.
Stock Price
At the open, the stock price was $8.3 and closed at the same price, a decline of 0.4% from the previous closing price of 8.4. The earnings report showed an overall decrease in profits as the company faced rising costs and weak sales. Despite this, KINGSWAY FINANCIAL SERVICES managed to cut costs in areas such as research and development, marketing, and labor expenses, allowing them to remain profitable. Despite the decline in profits, the company’s stock price remained stable as investors remained confident in the financial services firm’s long-term prospects. The stock, which had been performing well prior to the announcement, has been one of the market’s best performing stocks in recent months.
Overall, KINGSWAY FINANCIAL SERVICES has been able to maintain its profitability despite the challenging market conditions. The company is well-positioned to capitalize on any potential growth opportunities in the future. With a strong financial position and a diversified portfolio, KINGSWAY FINANCIAL SERVICES is well-positioned to continue delivering returns for investors in the long run. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for KFS. More…
| Total Revenues | Net Income | Net Margin |
| 123 | 56.22 | 12.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for KFS. More…
| Operations | Investing | Financing |
| -29.12 | 118.25 | -90.48 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for KFS. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 195.34 | 173.42 | 0.96 |
Key Ratios Snapshot
Some of the financial key ratios for KFS are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 24.7% | – | 63.8% |
| FCF Margin | ROE | ROA |
| -23.5% | 181.0% | 25.1% |
Analysis
As GoodWhale, we conducted an analysis of the financials of KINGSWAY FINANCIAL SERVICES. After running the Star Chart analysis, KINGSWAY FINANCIAL SERVICES is classified as “cheetah”, meaning it is a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. This type of company may be attractive to investors who are looking for high potential returns but are willing to take on some risks. However, KINGSWAY FINANCIAL SERVICES has a low health score of 1/10 considering its cashflows and debt, meaning it is less likely to pay off debt and fund future operations. Additionally, KINGSWAY FINANCIAL SERVICES is strong in liquidity, medium in growth and weak in asset, dividend, and profitability. These factors should be taken into account by investors when deciding whether or not to invest in this company. More…
Peers
Kingsway’s competitors in this space include Barkby Group PLC, Hoosiers Holdings, and Koshidaka Holdings Co Ltd.
– Barkby Group PLC ($LSE:BARK)
Barkby Group PLC is a United Kingdom-based holding company. The Company’s principal activities include investment in and operation of businesses. It operates through two segments: Investment Portfolio, and Corporate and Property. The Investment Portfolio segment includes investments in operating companies. The Corporate and Property segment comprises of property holdings, as well as the central costs of the Company.
– Hoosiers Holdings ($TSE:3284)
Hoosiers Holdings is a publicly traded company with a market capitalization of $26.39 billion as of 2022. The company has a return on equity of 11.02%. Hoosiers Holdings is a holding company that owns and operates a number of businesses in the healthcare, insurance, and financial services industries.
– Koshidaka Holdings Co Ltd ($TSE:2157)
Koshidaka Holdings Co Ltd is a Japanese company with a market capitalization of 89.6 billion as of 2022. The company has a return on equity of 3.12%. The company is involved in the operation of fitness clubs, health clubs, and spas.
Summary
Investors analyzing KINGSWAY FINANCIAL SERVICES should take note of the company’s second quarter fiscal year 2023 earnings results. Total revenue for the quarter amounted to USD 28.3 million, an increase of 1.7%. However, net income for the quarter was USD -1.4 million, a decrease from -2.7 million in the prior year. This indicates that KINGSWAY FINANCIAL SERVICES is still struggling financially, and investors should consider this information when looking into investing in the company.
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