Petra Diamonds (LON:PDL) Full Year 2023 Results

Key Financial Results

• Revenue: US$325.3m (down 44% from FY 2022).

• Net loss: US$64.8m (down by 194% from US$69.0m profit in FY 2022).

• US$0.33 loss per share (down from US$0.35 profit in FY 2022).

PDL Production and Reserves

Diamond

• Production: 0.533 t (0.671 t in FY 2022)

• Proved and probable reserves (ore): 92.6 Mt (103.6 Mt in FY 2022)

• Number of mines: 3 (4 in FY 2022)

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

Petra Diamonds Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 8.3%. Earnings per share (EPS) also missed analyst estimates by 161%.

Looking ahead, revenue is forecast to grow 13% 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

Before we wrap up, we've discovered 1 warning sign for Petra Diamonds that you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.