FIRST RESOURCES Reports Q2 FY2023 Earnings Results on August 10th
August 28, 2023
🌥️Earnings Overview
FIRST RESOURCES ($SGX:EB5) announced its second quarter FY2023 earnings on August 10 2023, with total revenue of USD 448.8 million, representing a decrease of 16.1% year-over-year. Net income for the quarter, ending June 30 2023, was USD 71.5 million, a decrease of 44.1% from the same period in the prior year.
Market Price
On Thursday, August 10th, FIRST RESOURCES reported their second quarter earnings for FY2023. At the start of the day, the company’s stock opened at SG$1.6, and closed at the same amount by day’s end. This marks an unchanged performance in terms of stock pricing over the course of the day. The results indicate that FIRST RESOURCES is continuing to experience steady growth despite the pandemic.
Overall, FIRST RESOURCES is on track to meet its financial goals for the year. Investors and analysts have expressed enthusiasm for the company’s growth potential, with investors showing an increased interest in the stock following the release of their second quarter results. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for First Resources. More…
| Total Revenues | Net Income | Net Margin |
| 1.14k | 268.7 | 23.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for First Resources. More…
| Operations | Investing | Financing |
| 459.44 | -149.28 | -269.9 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for First Resources. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.79k | 377.95 | 0.84 |
Key Ratios Snapshot
Some of the financial key ratios for First Resources are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 23.8% | 24.9% | 30.8% |
| FCF Margin | ROE | ROA |
| 27.1% | 16.7% | 12.2% |
Analysis
GoodWhale has conducted an analysis of FIRST RESOURCES‘s wellbeing and is pleased to report that it has been given a low risk rating. This means that the company is a safe investment in terms of financial and business aspects. We have examined the company’s income sheet and balance sheet and detected two risk warnings. However, these warnings are relatively minor and can be addressed relatively quickly. To find out more about these warnings, become a registered user on our platform. More…
Peers
The competition between First Resources Ltd and its competitors in the palm oil industry is intense. These companies include PT Mahkota Group Tbk, PT Salim Ivomas Pratama Tbk, and Teck Guan Perdana Bhd. All of these companies are vying for a share of the market and are constantly innovating to gain an edge over their competition.
– PT Mahkota Group Tbk ($IDX:MGRO)
PT Mahkota Group Tbk is an Indonesian conglomerate with interests in consumer products, real estate and construction, media, and finance. With a market cap of 2.82 trillion rupiah as of 2023, the company is one of the largest in Indonesia. Additionally, the company has a Return on Equity (ROE) of 9.48%, which is a measure of profitability that indicates how much profit the company generates relative to its shareholders’ equity. This higher-than-average ROE suggests that PT Mahkota Group Tbk is a successful company.
– PT Salim Ivomas Pratama Tbk ($IDX:SIMP)
PT Salim Ivomas Pratama Tbk is a publicly traded Indonesian food and beverage company that produces and distributes a broad range of products, from food and beverages to pharmaceuticals and chemicals. Its market cap of 6.39T as of 2023 reflects its position as a leader in the industry, which is further evidenced by its Return on Equity (ROE) of 12.4%. This high ROE is indicative of the company’s ability to generate returns for its shareholders, making it an attractive option for investors.
– Teck Guan Perdana Bhd ($KLSE:7439)
Teck Guan Perdana Bhd is a Malaysian-based company that operates in the oil and gas industry. It has a market capitalization of 72.98 million as of 2023, which indicates the company’s current value and the confidence that investors have in it. Its Return on Equity (ROE) of 42.36% indicates its overall financial performance and indicates that the company is generating good returns on its investments. The company is well-positioned to benefit from Malaysia’s growing oil and gas industry and capitalize on its potential for growth.
Summary
Investors should take note of FIRST RESOURCES‘ second quarter financial results for FY2023. While total revenue dropped by 16.1%, net income fell even harder, decreasing by 44.1%. This indicates that the company is struggling to increase its profitability.
Investors should analyze the factors contributing to the drop in income and determine whether FIRST RESOURCES is a good long-term investment. It will be important to watch how the company adjusts its strategies to improve profitability and regain shareholder confidence.
Related Posts
Recent Posts
