- Saudi Arabia
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- Oil and Gas
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- SASE:2222
Saudi Arabian Oil Second Quarter 2024 Earnings: Beats Expectations
Saudi Arabian Oil (TADAWUL:2222) Second Quarter 2024 Results
Key Financial Results
- Revenue: ر.س470.6b (up 5.0% from 2Q 2023).
- Net income: ر.س106.2b (down 2.5% from 2Q 2023).
- Profit margin: 23% (down from 24% in 2Q 2023). The decrease in margin was driven by higher expenses.
- EPS: ر.س0.44 (down from ر.س0.45 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Saudi Arabian Oil Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 6.8%. Earnings per share (EPS) also surpassed analyst estimates by 1.5%.
Looking ahead, revenue is expected to fall by 6.6% p.a. on average during the next 3 years compared to a 2.0% decline forecast for the Oil and Gas industry in Asia.
Performance of the market in Saudi Arabia.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
You still need to take note of risks, for example - Saudi Arabian Oil has 1 warning sign we think you should be aware 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.
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About SASE:2222
Saudi Arabian Oil
Operates as an integrated energy and chemical company in the Kingdom of Saudi Arabia and internationally.
Flawless balance sheet with acceptable track record.