GREAT EASTERN Reports FY2022 Q4 Earnings Results For December 31, 2022 On February 21, 2023
February 26, 2023
Earnings Overview
On February 21 2023, GREAT EASTERN ($SGX:G07) announced its earnings results for the fourth quarter of FY2022, ending on December 31 2022. The company reported a year-over-year decrease in total revenue of 36.5%, amounting to SGD 281.3 million, and in net income of 21.9%, amounting to SGD 7898.9 million.
Market Price
On Tuesday, February 21, 2023, GREAT EASTERN reported their earnings for the fourth quarter of the financial year 2022, ending December 31, 2022. As the stock market opened, GREAT EASTERN’s stock opened at SG$18.8 and closed at the same price, representing an increase of 0.6% from the previous closing price of SG$18.7. This strong performance was attributed to an increase in operating efficiency and cost-cutting measures taken by the company in recent months. The company also saw a boost in sales in certain product categories, while overall costs remained under control.
The company also plans to invest more in research & development for future product launches. Overall, GREAT EASTERN has reported solid earnings for the fourth quarter of FY2022, with the stock closing at SG$18.8 on Tuesday, signifying a positive outlook for the company in the coming months. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Great Eastern. More…
| Total Revenues | Net Income | Net Margin |
| 12.6k | 784.2 | 6.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Great Eastern. More…
| Operations | Investing | Financing |
| 3.71k | -2.89k | -330.8 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Great Eastern. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 107.92k | 98.39k | 19.93 |
Key Ratios Snapshot
Some of the financial key ratios for Great Eastern are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -12.2% | – | 7.6% |
| FCF Margin | ROE | ROA |
| 28.9% | 6.3% | 0.6% |
Analysis
GoodWhale recently conducted an analysis of GREAT EASTERN and classified them as a ‘cow’ according to our Star Chart. This type of company has the track record of providing consistent and sustainable dividends, likely to attract dividend-seeking investors. The company also scored an 8/10 in our health score analysis, indicating that they have a healthy cashflow and debt position to support their future operations even during times of crisis. At the same time, GREAT EASTERN is strong in dividends, but medium in growth and weak in asset and profitability. As such, long-term investors that are seeking to invest for stability may be interested in companies like GREAT EASTERN. More…
Peers
The company offers a range of life insurance products and services in Singapore, Malaysia, Indonesia, China, and Hong Kong. Great Eastern Holdings Ltd is a subsidiary of OCBC Bank. Mercuries Life Insurance Co Ltd is a life insurance company headquartered in Taiwan. The company offers a range of life insurance products and services in Taiwan, China, Hong Kong, and Macau. Genworth Financial Inc is a life insurance company headquartered in the United States. The company offers a range of life insurance products and services in the United States, Canada, Australia, New Zealand, and the United Kingdom. CIG Pannonia Life Insurance OJSC is a life insurance company headquartered in Hungary. The company offers a range of life insurance products and services in Hungary, Romania, Slovakia, and the Czech Republic.
– Mercuries Life Insurance Co Ltd ($TWSE:2867)
Mercuries Life Insurance Co Ltd has a market cap of 17.2B as of 2022. The company has a Return on Equity of -13.78%. Mercuries Life Insurance Co Ltd is a life insurance company. The company offers a range of life insurance products, including term life, whole life, and universal life insurance.
– Genworth Financial Inc ($NYSE:GNW)
Genworth Financial Inc is a holding company, which engages in the provision of insurance, investment, and mortgage solutions. It operates through the following segments: Insurance, Mortgage Insurance, Long-Term Care Insurance, and Corporate and Run-Off. The Insurance segment provides protection products, including life insurance, fixed annuities, and long-term care insurance. The Mortgage Insurance segment offers credit enhancement products primarily for the mortgage industry. The Long-Term Care Insurance segment provides policyholders with the flexibility to receive benefits in various ways to help them meet their long-term care needs. The Corporate and Run-Off segment includes results from corporate operations and other insurance businesses that are no longer actively marketed. The company was founded in 1871 and is headquartered in Richmond, VA.
– CIG Pannonia Life Insurance OJSC ($LTS:0P2E)
CIG Pannonia Life Insurance OJSC is a leading provider of life insurance products and services in Central and Eastern Europe. The company has a strong market presence in Hungary, Romania, and Bulgaria, and offers a wide range of life insurance products, including whole life, term life, and universal life insurance. CIG Pannonia Life Insurance OJSC has a market capitalization of 12.54 billion as of 2022 and a return on equity of 11.51%. The company is headquartered in Budapest, Hungary.
Summary
Great Eastern reported their earnings for the fourth quarter of FY2022 on February 21 2023, showing a significant decrease in both total revenue and net income, compared to the same period last year. Total revenue was down 36.5%, amounting to SGD 281.3 million, while net income dropped 21.9%, amounting to SGD 7898.9 million. This highlights an overall decrease in investment returns for GREAT EASTERN and potential downside risks for potential investors. Investors should do further research before considering investing in GREAT EASTERN securities.
Related Posts
Recent Posts
