Stock Analysis
- Saudi Arabia
- /
- Chemicals
- /
- SASE:2330
Advanced Petrochemical Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags
Advanced Petrochemical (TADAWUL:2330) Second Quarter 2024 Results
Key Financial Results
- Revenue: ر.س649.1m (up 12% from 2Q 2023).
- Net income: ر.س40.5m (down 33% from 2Q 2023).
- Profit margin: 6.2% (down from 10% in 2Q 2023). The decrease in margin was driven by higher expenses.
- EPS: ر.س0.16 (down from ر.س0.23 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Advanced Petrochemical Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 6.5%. Earnings per share (EPS) missed analyst estimates by 25%.
Looking ahead, revenue is forecast to grow 46% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Chemicals industry in Saudi Arabia.
Performance of the Saudi Chemicals industry.
The company's shares are up 2.3% from a week ago.
Risk Analysis
Be aware that Advanced Petrochemical is showing 3 warning signs in our investment analysis and 2 of those can't be ignored...
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About SASE:2330
Advanced Petrochemical
Engages in the production and sale of propylene, polypropylene, isopropyl alcohol, polysilicon, and polysilicon downstream products in the Kingdom of Saudi Arabia and internationally.