Theeb Rent A Car Full Year 2023 Earnings: Misses Expectations

Theeb Rent A Car (TADAWUL:4261) Full Year 2023 Results

Key Financial Results

• Revenue: ر.س1.14b (up 17% from FY 2022).
• Net income: ر.س142.1m (down 26% from FY 2022).
• Profit margin: 13% (down from 20% in FY 2022). The decrease in margin was driven by higher expenses.
• EPS: ر.س3.30 (down from ر.س4.49 in FY 2022).

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

Theeb Rent A Car Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 3.1%.

Looking ahead, revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Transportation industry in Asia.

Performance of the market in Saudi Arabia.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for Theeb Rent A Car (1 can't be ignored!) that you need to be mindful of.

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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.