Polaris Renewable Energy Full Year 2023 Earnings: Misses Expectations

Polaris Renewable Energy (TSE:PIF) Full Year 2023 Results

Key Financial Results

• Revenue: US$78.5m (up 25% from FY 2022).
• Net income: US$11.7m (up 370% from FY 2022).
• Profit margin: 15% (up from 4.0% in FY 2022). The increase in margin was driven by higher revenue.
• EPS: US$0.56 (up from US$0.12 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Polaris Renewable Energy Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 1.3%.

Looking ahead, revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Renewable Energy industry in Canada.

Performance of the Canadian Renewable Energy industry.

The company’s shares are down 1.0% from a week ago.

Risk Analysis

What about risks? Every company has them, and we’ve spotted 2 warning signs for Polaris Renewable Energy (of which 1 makes us a bit uncomfortable!) you should know about.

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