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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