Advanced Petrochemical Third Quarter 2024 Earnings: EPS Beats Expectations

Advanced Petrochemical (TADAWUL:2330) Third Quarter 2024 Results

Key Financial Results

• Revenue: ر.س643.0m (up 8.2% from 3Q 2023).
• Net income: ر.س45.5m (flat on 3Q 2023).
• Profit margin: 7.1% (down from 7.6% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: ر.س0.18 (up from ر.س0.17 in 3Q 2023).

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

Advanced Petrochemical EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 35%.

Looking ahead, revenue is forecast to grow 45% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Chemicals industry in Saudi Arabia.

Performance of the Saudi Chemicals industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

We should say that we've discovered 4 warning signs for Advanced Petrochemical (3 are potentially serious!) that you should be aware of before investing here.

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