Saudi Steel Pipes First Quarter 2024 Earnings: EPS: ر.س1.11 (vs ر.س0.13 in 1Q 2023)

Saudi Steel Pipes (TADAWUL:1320) First Quarter 2024 Results

Key Financial Results

• Revenue: ر.س514.9m (up 209% from 1Q 2023).
• Net income: ر.س76.3m (up by ر.س69.9m from 1Q 2023).
• Profit margin: 15% (up from 3.9% in 1Q 2023). The increase in margin was driven by higher revenue.
• EPS: ر.س1.11 (up from ر.س0.13 in 1Q 2023).

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

Saudi Steel Pipes Earnings Insights

Looking ahead, revenue is expected to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Saudi Arabia are expected to grow by 6.8%.

Performance of the Saudi Metals and Mining industry.

The company's shares are down 5.0% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for Saudi Steel Pipes that you need to take into consideration.

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