Middle East Healthcare First Quarter 2024 Earnings: Misses Expectations

Middle East Healthcare (TADAWUL:4009) First Quarter 2024 Results

Key Financial Results

• Revenue: ر.س689.2m (up 8.0% from 1Q 2023).
• Net income: ر.س51.9m (up 3.6% from 1Q 2023).
• Profit margin: 7.5% (down from 7.9% in 1Q 2023). The decrease in margin was driven by higher expenses.
• EPS: ر.س0.56 (up from ر.س0.55 in 1Q 2023).

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

Middle East Healthcare Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) also missed analyst estimates by 26%.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Healthcare industry in Saudi Arabia.

Performance of the Saudi Healthcare industry.

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

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for Middle East Healthcare you should know about.

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