Saudi Arabian Oil Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Simply Wall St

November 09, 2024

Saudi Arabian Oil (TADAWUL:2222) Third Quarter 2024 Results

Key Financial Results

Revenue: ر.س464.6b (down 5.0% from 3Q 2023).
Net income: ر.س97.6b (down 21% from 3Q 2023).
Profit margin: 21% (down from 25% in 3Q 2023).
EPS: ر.س0.40 (down from ر.س0.51 in 3Q 2023).

earnings-and-revenue-growth — SASE:2222 Earnings and Revenue Growth November 9th 2024

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

Saudi Arabian Oil Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 2.3%.

Looking ahead, revenue is forecast to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Asia are expected to remain flat.

Performance of the market in Saudi Arabia.

The company's shares are up 3.7% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Saudi Arabian Oil that 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.