Mesabi Trust (MSB) Q1 FY2023 earnings: revenue $14 million, up 51.0% on the year
Mesabi Trust (MSB) reported revenue of $14 million for Q1 FY2023, the quarter ended 30 April 2022, up 51.0% on the same quarter a year earlier as this quarter's filing gives it. Net income was $14 million, up 58.6% on the year as this quarter's filing gives it, and diluted earnings per share $1.04. The figures are the company's own, from the 10-Q it filed with the SEC on 13 June 2022.
Revenue$14 millionup 51.0% on the year
Net income$14 millionup 58.6% on the year
Diluted EPS$1.04
QuarterQ1 FY2023ended 30 April 2022
The quarter, against the one before and a year earlier
| Line | Q1 FY2023 | Q4 FY2022 | A year earlier | Change on the year |
|---|---|---|---|---|
| Revenue | 14.2 | 18.0 | n/a | n/a |
| Cost of revenue | 0.6 | 0.5 | n/a | n/a |
| Gross profit | 13.6 | 17.4 | n/a | n/a |
| Gross margin | 95.8% | 97.1% | n/a | |
| Net income | 13.6 | 17.4 | n/a | n/a |
| Net margin | 95.8% | 97.1% | n/a | |
| Diluted EPS | $1.04 basic | $1.33 basic | n/a | n/a |
$ million except per share.
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Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.Cash flow and capital returned
| Line | Q1 FY2023 | Q4 FY2022 | A year earlier | Change on the year |
|---|---|---|---|---|
| Operating cash flow | 13.1 | 20.5 | n/a | n/a |
| Cash from investing | n/a | 0.0 | n/a | n/a |
| Dividends paid | 23.0 | 18.6 | n/a | n/a |
| Diluted shares, weighted | 13m | n/a | n/a | n/a |
| Shares outstanding at period end | 13m | 13m | n/a | n/a |
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet at quarter end
| Line | Q1 FY2023 | Q4 FY2022 | A year earlier | Change on the year |
|---|---|---|---|---|
| Shareholders' equity | 30.7 | 30.8 | n/a | n/a |
| Debt | 0.0 | 0.0 | n/a | n/a |
| Other liabilities | 13.9 | 23.1 | n/a | n/a |
| Total liabilities and equity | 44.7 | 53.9 | n/a | n/a |
| Cash and equivalents | 37.9 | 47.7 | n/a | n/a |
| Receivables | 2.3 | 4.6 | n/a | n/a |
| Other assets | 4.5 | 1.6 | n/a | n/a |
| Total assets | 44.7 | 53.9 | n/a | n/a |
Questions
What was Mesabi Trust's revenue in Q1 FY2023?
Mesabi Trust (MSB) reported revenue of $14 million for Q1 FY2023, the quarter ended 30 April 2022, up 51.0% on the same quarter a year earlier as the company restated it.
How much did Mesabi Trust earn in Q1 FY2023?
Net income for Q1 FY2023 was $14 million, up 58.6% on the year, and diluted earnings per share $1.04.
When did Mesabi Trust report Q1 FY2023 results?
Mesabi Trust filed its 10-Q for the quarter ended 30 April 2022 with the SEC on 13 June 2022.
Quarterly results, the last 20 quarters
| Q3 FY2022 | Q4 FY2022 | Q1 FY2023 | Q2 FY2023 | Q3 FY2023 | Q4 FY2023 | Q1 FY2024 | Q2 FY2024 | Q3 FY2024 | Q4 FY2024 * | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 * | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 * | Q1 FY2027 | Q2 FY2027 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 16.4 | 18.0 | 14.2 | -4.4 | 0.1 | -2.2 | 1.8 | 9.9 | 4.9 | 6.2 | 6.3 | 6.5 | 79.0 | 6.9 | 4.7 | 5.6 | 3.6 | 3.6 | 2.2 | 2.5 |
| Cost of revenue | 0.4 | 0.5 | 0.6 | 0.5 | 0.5 | 0.8 | 0.8 | 0.7 | 0.8 | 1.5 | 2.8 | 1.1 | 0.7 | 0.8 | 1.1 | 0.9 | 0.8 | 0.9 | 1.2 | 2.6 |
| Gross profit | 16.0 | 17.4 | 13.6 | -4.9 | -0.4 | -3.0 | 1.0 | 9.2 | 4.1 | 4.7 | 3.5 | 5.4 | 78.3 | 6.1 | 3.6 | 4.7 | 2.8 | 2.7 | 1.1 | -0.1 |
| Gross margin | 98% | 97% | 96% | n/a | -489% | n/a | 55% | 93% | 83% | 75% | 56% | 83% | 99% | 89% | 77% | 85% | 77% | 76% | 48% | -4% |
| Net income | 16.0 | 17.4 | 13.6 | -4.9 | -0.4 | -3.0 | 1.0 | 9.2 | 4.1 | 4.7 | 3.5 | 5.4 | 78.3 | 6.1 | 3.6 | 4.7 | 2.8 | 2.7 | 1.1 | -0.1 |
| Net margin | 98% | 97% | 96% | n/a | -489% | n/a | 55% | 93% | 83% | 75% | 56% | 83% | 99% | 89% | 77% | 85% | 77% | 76% | 48% | -4% |
| Diluted EPS | $1.22 basic | $1.33 basic | $1.04 basic | -$0.37 basic | -$0.03 basic | -$0.23 basic | $0.08 basic | $0.70 basic | $0.31 basic | $0.36 | $0.27 basic | $0.41 basic | $5.97 basic | $0.46 | $0.28 basic | $0.36 basic | $0.21 basic | $0.21 | $0.08 basic | -$0.01 basic |
| Operating cash flow | 18.7 | 20.5 | 13.1 | 1.6 | -0.3 | -0.5 | -0.9 | 4.6 | 5.2 | 5.7 | 2.5 | 3.8 | 78.2 | 9.4 | 2.1 | 4.4 | 3.5 | 4.4 | 0.5 | 0.2 |
| Dividends paid | 1.2 | 18.6 | 23.0 | 13.6 | 11.0 | 0.0 | n/a | n/a | n/a | n/a | 4.9 | 3.8 | 3.9 | n/a | 78.1 | 7.3 | 1.6 | 4.5 | 3.4 | 3.1 |
| Shares outstanding | 13m | 13m | 13m | 13m | 13m | 13m | 13m | 13m | 13m | 13m | 13m | 13m | 13m | 13m | 13m | 13m | 13m | 13m | 13m | 13m |
| Filing | 10-Q | 10-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q |
Each quarter as filed, linked to its filing.
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* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.10-Q for the period ended 30 April 2022, filed 13 June 2022: the filing.