SABIC Agri-Nutrients Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

SABIC Agri-Nutrients (TADAWUL:2020) Second Quarter 2024 Results

Key Financial Results

• Revenue: ر.س2.68b (up 1.8% from 2Q 2023).
• Net income: ر.س705.3m (up 8.3% from 2Q 2023).
• Profit margin: 26% (up from 25% in 2Q 2023).
• EPS: ر.س1.48 (up from ر.س1.37 in 2Q 2023).

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

SABIC Agri-Nutrients Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 8.8%. Earnings per share (EPS) missed analyst estimates by 18%.

Looking ahead, revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Chemicals industry in Saudi Arabia.

Performance of the Saudi Chemicals industry.

The company's shares are up 3.0% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 1 warning sign for SABIC Agri-Nutrients you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com