Sahara International Petrochemical Third Quarter 2024 Earnings: Misses Expectations

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

Key Financial Results

• Revenue: ر.س1.63b (down 9.1% from 3Q 2023).
• Net income: ر.س103.2m (down 56% from 3Q 2023).
• Profit margin: 6.3% (down from 13% in 3Q 2023). The decrease in margin was driven by lower revenue.
• EPS: ر.س0.14 (down from ر.س0.32 in 3Q 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 13%. Earnings per share (EPS) also missed analyst estimates by 32%.

Looking ahead, revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Chemicals industry in Saudi Arabia.

Performance of the Saudi Chemicals industry.

The company's shares are down 1.6% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 2 warning signs for Sahara International Petrochemical you should be aware of.

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