Sahara International Petrochemical Second Quarter 2024 Earnings: Misses Expectations

Sahara International Petrochemical (TADAWUL:2310) Second Quarter 2024 Results

Key Financial Results

• Revenue: ر.س1.77b (up 4.0% from 2Q 2023).
• Net income: ر.س121.5m (down 61% from 2Q 2023).
• Profit margin: 6.9% (down from 18% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: ر.س0.17 (down from ر.س0.43 in 2Q 2023).

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

Sahara International Petrochemical Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 40%.

Looking ahead, revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Chemicals industry in Saudi Arabia.

Performance of the Saudi Chemicals industry.

The company's shares are down 2.4% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Sahara International Petrochemical that you should be aware of.

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