SIGNET JEWELERS Reports 8.1% YOY Decrease in Total Revenue for Q2 2023
September 3, 2023
🌥️Earnings Overview
SIGNET JEWELERS ($NYSE:SIG) reported total revenue of USD 1613.6 million for the second quarter ending July 31 2023, which was 8.1% lower than the same quarter last year. Net income for the period was USD 75.1 million, a 48.3% decrease on the previous year. These results were announced on August 31 2023 as part of the company’s FY2024 Q2 report.
Analysis
GoodWhale’s analysis of SIGNET JEWELERS‘s financials reveals that the company is strong in dividend and profitability, and medium in asset and growth. Using this data, we determined that SIGNET JEWELERS is classified as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Investors who are interested in steady and consistent returns from their investments may find SIGNET JEWELERS particularly attractive. Furthermore, SIGNET JEWELERS has a high health score of 8/10 taking into account their cashflows and debt, indicating that they are capable of paying off their debt and funding future operations. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Signet Jewelers. More…
| Total Revenues | Net Income | Net Margin |
| 7.53k | 452.8 | 5.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Signet Jewelers. More…
| Operations | Investing | Financing |
| 659.5 | -531.3 | -286.7 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Signet Jewelers. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.09k | 3.82k | 49.96 |
Key Ratios Snapshot
Some of the financial key ratios for Signet Jewelers are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.0% | 151.6% | 8.2% |
| FCF Margin | ROE | ROA |
| 7.0% | 17.1% | 6.3% |
Peers
The company is engaged in the retail sale of diamond jewelry, watches, and other related items. Signet Jewelers competes in the jewelry industry with other retailers such as Jakroo Inc, ABC Technologies Holdings Inc, and National Vision Holdings Inc.
– Jakroo Inc ($OTCPK:JKRO)
ATC Technologies Holdings Inc is a global provider of precision machining solutions. The company offers a range of services, including contract manufacturing, machining, and assembly. ATC serves a variety of industries, including aerospace, defense, medical, and semiconductor. The company has a market cap of 559.41M and a ROE of -9.23%.
– ABC Technologies Holdings Inc ($TSX:ABCT)
National Vision Holdings Inc is a holding company that operates through its subsidiaries as one of the largest optical retailers in the United States. The company offers a wide variety of vision care products and services including eyeglasses, contact lenses, eye exams, and prescription sunglasses. As of 2022, the company had a market capitalization of 2.66 billion dollars and a return on equity of 10.47%. National Vision Holdings Inc operates over 1,400 stores in 42 states across the United States.
Summary
SIGNET JEWELERS reported total revenue of USD 1613.6 million for the second quarter ending July 31 2023, a year-over-year decrease of 8.1%. Net income for the same period was USD 75.1 million, representing a 48.3% decrease compared to the previous year. Despite the drop in revenue and income, SIGNET JEWELERS stock price moved up the same day as these earnings were reported on August 31 2023.
Investors may be encouraged by the company’s ability to manage through difficult conditions, as well as the potential for SIGNET JEWELERS stock to increase in value in the future. As such, SIGNET JEWELERS may be an attractive target for investors looking for a long-term investment opportunity.
Related Posts
Recent Posts
