Riyadh Cables Group Third Quarter 2024 Earnings: Beats Expectations

Riyadh Cables Group (TADAWUL:4142) Third Quarter 2024 Results

Key Financial Results

• Revenue: ر.س2.43b (up 17% from 3Q 2023).
• Net income: ر.س234.8m (up 77% from 3Q 2023).
• Profit margin: 9.6% (up from 6.4% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: ر.س1.57 (up from ر.س0.89 in 3Q 2023).

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

Riyadh Cables Group Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 39%.

Looking ahead, revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electrical industry in Asia.

Performance of the market in Saudi Arabia.

The company's shares are up 6.2% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 2 warning signs for Riyadh Cables Group you should know about.

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