Eastern Province Cement Full Year 2023 Earnings: Misses Expectations

Eastern Province Cement (TADAWUL:3080) Full Year 2023 Results

Key Financial Results

• Revenue: ر.س984.6m (up 26% from FY 2022).
• Net income: ر.س197.6m (up 38% from FY 2022).
• Profit margin: 20% (up from 18% in FY 2022). The increase in margin was driven by higher revenue.
• EPS: ر.س2.30 (up from ر.س1.67 in FY 2022).

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

Eastern Province Cement Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 79%. Earnings per share (EPS) also missed analyst estimates by 80%.

Looking ahead, revenue is forecast to stay flat during the next 2 years compared to a 7.1% growth forecast for the Basic Materials industry in Saudi Arabia.

Performance of the Saudi Basic Materials industry.

The company's shares are down 1.9% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for Eastern Province Cement you should know about.

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