MESSABI TRUST Reports Earnings Results for FY2024 Q2 as of July 31 2023

September 15, 2023

Categories: Earnings Report, SteelTags: , , Views: 34

☀️Earnings Overview

On September 13 2023, MESABI TRUST ($NYSE:MSB) announced its financial results for the second quarter of FY2024, ended July 31 2023. The total revenue of the company had increased to USD 9.7 million from a negative -4.4 million reported in the same quarter of the previous year. Its net income for this quarter was USD 9.2 million compared to the -4.9 million reported in the same quarter of FY2023.

Share Price

MESABI TRUST, a Minnesota-based mining trust, reported its earnings results for the second quarter of FY2024 as of July 31, 2023. On Wednesday, the trust’s stock opened at $19.3 and closed at $19.7, up by 2.4% from the prior closing price of $19.3. The trust’s CEO commented on the strong performance of the trust, stating that it was a direct result of their strategy to focus on core assets and invest in new ventures to drive future growth. He also stated that the trust has been able to optimize its cost structure while also increasing its production capacity, allowing for stronger profitability and returns for their investors.

Overall, MESABI TRUST reported a strong second quarter performance for FY2024, with total assets, revenue, and net income all increasing year-on-year. These results show that the trust is in a strong position to continue to grow and provide strong returns for its investors in the future. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Mesabi Trust. More…

    Total Revenues Net Income Net Margin
    9.14 6.78 74.1%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Mesabi Trust. More…

    Operations Investing Financing
    2.98 23.34 -11.02
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Mesabi Trust. More…

    Total Assets Total Liabilities Book Value Per Share
    21.9 0.26 1.65
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Mesabi Trust are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    -24.7% -30.1% 74.0%
    FCF Margin ROE ROA
    32.6% 24.8% 19.3%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    At GoodWhale, we performed an analysis of MESABI TRUST and the results were quite positive. Based on our Risk Rating, MESABI TRUST is a medium-level risk investment in terms of financial and business aspects. However, we did detect two risk warnings in the balance sheet and financial journal during our analysis. To get a better understanding of these risk warnings, we suggest becoming a registered user with us so you can check them out. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis




  • Peers

    The properties are located in the Mesabi Iron Range and include the Hibbing Taconite Company and Northshore Mining Company. The trust was created in 1961 and is managed by Morgan Stanley. Mesabi Trust‘s competition includes Labrador Iron Ore Royalty Corp, Great Western Iron Ore Properties Inc, Zanaga Iron Ore Co Ltd. Each company owns iron ore properties and competes for market share.

    – Labrador Iron Ore Royalty Corp ($TSX:LIF)

    Labrador Iron Ore Royalty Corp is a Canadian company that owns interests in iron ore mines in the province of Newfoundland and Labrador. The company has a market cap of $1.84 billion as of 2022 and a return on equity of 20.02%. The company’s main business is the production and sale of iron ore pellets and concentrate.

    – Great Western Iron Ore Properties Inc ($OTCPK:GWIO)

    Zanaga Iron Ore Co Ltd is a mining company with a market cap of 6.45M as of 2022. The company has a Return on Equity of -1.73%. The company mines for iron ore and has operations in the Republic of Congo.

    Summary

    Mesabi Trust has reported their earnings results for the second quarter of FY2024, ending July 31, 2023, showing positive growth in both revenue and net income compared to Q2 of the prior year. This strong financial performance is indicative of a potential positive outlook for investors in Mesabi Trust, as they benefit from the company’s growth. Investors should continue to monitor the company’s financials closely to make informed decisions.

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