City Cement Third Quarter 2024 Earnings: Misses Expectations

City Cement (TADAWUL:3003) Third Quarter 2024 Results

Key Financial Results

• Revenue: ر.س130.1m (up 84% from 3Q 2023).
• Net income: ر.س33.7m (up by ر.س29.2m from 3Q 2023).
• Profit margin: 26% (up from 6.3% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: ر.س0.24 (up from ر.س0.032 in 3Q 2023).

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

City Cement Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 7.7%.

Looking ahead, revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Basic Materials industry in Saudi Arabia.

Performance of the Saudi Basic Materials industry.

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

Risk Analysis

It is worth noting though that we have found 1 warning sign for City Cement that you need to take into consideration.

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