In This Article:
Rio Tinto Group (LON:RIO) First Half 2023 Results
Key Financial Results
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Revenue: US$26.7b (down 10% from 1H 2022).
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Net income: US$5.12b (down 43% from 1H 2022).
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Profit margin: 19% (down from 30% in 1H 2022). The decrease in margin was primarily driven by lower revenue.
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EPS: US$3.16 (down from US$5.52 in 1H 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Rio Tinto Group Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) missed analyst estimates by 17%.
Looking ahead, revenue is forecast to decline by 1.5% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in the United Kingdom are expected to remain flat.
Performance of the British Metals and Mining industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
It's still necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Rio Tinto Group, and understanding these should be part of your investment process.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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