Qassim Cement Full Year 2024 Earnings: Beats Expectations

Qassim Cement (TADAWUL:3040) Full Year 2024 Results

Key Financial Results

• Revenue: ر.س967.6m (up 66% from FY 2023).
• Net income: ر.س301.3m (up 112% from FY 2023).
• Profit margin: 31% (up from 24% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: ر.س2.98 (up from ر.س1.58 in FY 2023).

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

Qassim Cement Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 8.4%. Earnings per share (EPS) also surpassed analyst estimates by 8.1%.

In the last 12 months, the only revenue segment was Manufacturing and Selling of Cement contributing ر.س967.6m. Notably, cost of sales worth ر.س635.3m amounted to 66% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to ر.س77.7m (194% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of ر.س9.04m. Explore how 3040's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Basic Materials industry in Saudi Arabia.

Performance of the Saudi Basic Materials industry.

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

Risk Analysis

Be aware that Qassim Cement is showing 2 warning signs in our investment analysis and 1 of those is potentially serious...

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.