Lumi Rental Second Quarter 2024 Earnings: EPS: ر.س0.84 (vs ر.س0.90 in 2Q 2023)

Lumi Rental (TADAWUL:4262) Second Quarter 2024 Results

Key Financial Results

• Revenue: ر.س360.5m (up 55% from 2Q 2023).
• Net income: ر.س46.0m (down 7.3% from 2Q 2023).
• Profit margin: 13% (down from 21% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: ر.س0.84 (down from ر.س0.90 in 2Q 2023).

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

Lumi Rental Earnings Insights

Looking ahead, revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Transportation industry in Asia.

Performance of the market in Saudi Arabia.

The company's shares are down 2.2% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for Lumi Rental (2 don't sit too well with us!) that you need to be mindful of.

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