FIRST SHIP LEASE TRUST Reports Second Quarter Earnings for FY2023
August 15, 2023
☀️Earnings Overview
The SECOND QUARTER of FY2023, ending June 30 2023, saw FIRST SHIP LEASE TRUST ($SGX:D8DU) report a total revenue of USD 4.1 million, a 44.1% decrease from the previous year. Net income for the period was USD 1.8 million, which was 11.7% lower than the same quarter in FY2022. Results were announced on August 3 2023.
Stock Price
On Thursday, FIRST SHIP LEASE TRUST reported second quarter earnings for FY2023, with the stock opening at SG$0.1 and closing at SG$0.1, up by 1.4% from its previous closing price of 0.1. This upward trend in stock price has been attributed to the company’s strong financial performance over the past quarter. The company’s strong financial performance can be attributed to its increased efficiency in ship leasing, cost-saving strategies, and prudent management of cash reserves. The company was also able to realise cost savings through its proactive management of maintenance costs and reduced expenses for ship leasing operations.
The company’s stock performance over the second quarter suggests that investors remain confident in FIRST SHIP LEASE TRUST’s ability to deliver consistent profits over the long term. This is a testament to the company’s success in delivering strong financial returns while maintaining stringent safety and environmental standards throughout its operations. As FIRST SHIP LEASE TRUST looks ahead to the rest of FY2023, it is set to continue delivering strong financial returns for its investors and stakeholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for D8DU. More…
| Total Revenues | Net Income | Net Margin |
| 14.9 | 12.86 | 41.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for D8DU. More…
| Operations | Investing | Financing |
| 12.18 | 27.63 | -32.94 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for D8DU. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 65.59 | 12.62 | 0.03 |
Key Ratios Snapshot
Some of the financial key ratios for D8DU are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -40.5% | -35.1% | 94.0% |
| FCF Margin | ROE | ROA |
| 74.5% | 16.8% | 13.4% |
Analysis
GoodWhale recently conducted an analysis of FIRST SHIP LEASE TRUST’s wellbeing. Based on our Risk Rating, FIRST SHIP LEASE TRUST is a medium risk investment in terms of financial and business aspects. We have also detected two risk warnings in their income sheet and balance sheet. To get more details on this analysis, register with GoodWhale at goodwhale.com. Our team would be happy to provide a detailed report. With this knowledge, you can make a more informed decision about your investment in FIRST SHIP LEASE TRUST. More…
Peers
The competition between First Ship Lease Trust and its competitors, FTAI Aviation Ltd, Textainer Group Holdings Ltd, and Navios Maritime Partners LP, is fierce. All four companies strive to provide the best maritime services and products available, often competing for the same customers and business opportunities. In order to remain competitive, each company must remain innovative and agile in order to stay ahead of the competition.
– FTAI Aviation Ltd ($NASDAQ:FTAI)
FTAI Aviation Ltd is a leading provider of aviation services. The company provides a wide range of services, ranging from aircraft leasing and finance to cargo and passenger air charter. FTAI Aviation Ltd’s market cap of 3.49 billion as of 2023 reflects the market’s confidence in the company’s strong performance and potential for continued growth. Additionally, the company has a Return on Equity of 256.77%, illustrating its commitment to profitable operations and good corporate governance. This impressive ROE demonstrates that the company is managing its capital efficiently and delivering returns for its shareholders.
– Textainer Group Holdings Ltd ($NYSE:TGH)
Textainer Group Holdings Ltd is an international lessor of intermodal containers, providing leasing and related services to shipping lines, freight forwarders, and other traders. As of 2023, the company has a market cap of 1.75 billion and a Return on Equity of 8.35%. The company’s market cap is indicative of its health in the industry and its ability to generate returns by leveraging its substantial investments in the intermodal container business. The company’s Return on Equity is also strong, indicating that it is managing its resources effectively and that it is producing a healthy return on its shareholders’ investments.
– Navios Maritime Partners LP ($NYSE:NMM)
Navios Maritime Partners LP is a global shipping logistics company specializing in the transportation of dry cargo such as dry bulk and containerized cargo. The company has a current market capitalization of $710.24M as of 2023, reflecting the market’s current assessment of the company’s underlying value. Its Return on Equity (ROE) of 18.24% is an indication of the company’s strong performance and its ability to convert investor capital into profit with efficiency.
Summary
FIRST SHIP LEASE TRUST’s second quarter earnings results for FY2023 showed a 44.1% decrease in total revenue and 11.7% decrease in net income compared to the same period in the prior year. Despite this downturn, investors may still find value in the company, as the company boasts a strong balance sheet and has a track record of delivering stable returns. It is also worth noting that the company is diversified across multiple industries and regions, helping to cushion the impact of any individual market downturns. Given the current macroeconomic environment, investors should keep a close eye on FIRST SHIP LEASE TRUST’s performance over the next few quarters to get a better sense of its long-term investment potential.
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