REVENUE FORECAST
After reporting revenue of 2.09 billion pounds ($2.65 billion) in 2022, Croda International is gearing up to announce its 2023 results. Analysts have compiled a revenue consensus ranging from GBP1.68 billion to GBP1.77 billion for the upcoming year.
PRETAX PROFIT FORECAST
In 2022, the company saw a reported pretax profit of GBP780.0 million. However, for 2023, analysts’ consensus indicates a lower pretax profit of GBP272.8 million, based on six forecasts from FactSet.
ADJUSTED PRETAX PROFIT FORECAST
For adjusted pretax profit–excluding exceptional and one-off items–Croda International’s compiled consensus ranges from GBP294.2 million to GBP306.2 million for 2023. This is a decrease compared to the 2022 adjusted pretax profit of GBP496.1 million.
WHAT TO WATCH
- Despite being among the few FTSE 100 companies with a consistent record of growing annual dividends, Croda International issued a profit warning in June impacting its interim dividend for 2023. Analysts are anticipating a slight increase in dividends for 2023 and 2024.
- With sales growth expectations at 3% for 2024, analysts are closely watching for signs of improved momentum in the second half of 2023.
- The upcoming earnings release marks the final one under Chief Financial Officer Louisa Burdett, who is set to depart in June. Shareholders will be eager for an update on her successor.
Stay tuned for Croda International’s 2023 results to be disclosed on Tuesday.
