Analysts' Revenue Estimates For ACWA POWER Company (TADAWUL:2082) Are Surging Higher

ACWA POWER Company (TADAWUL:2082) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.

After this upgrade, ACWA POWER's twin analysts are now forecasting revenues of ر.س7.4b in 2023. This would be a sizeable 39% improvement in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of ر.س6.2b in 2023. It looks like there's been a clear increase in optimism around ACWA POWER, given the solid increase in revenue forecasts.

See our latest analysis for ACWA POWER

Of course, another way to look at these forecasts is to place them into context against the industry itself. It's clear from the latest estimates that ACWA POWER's rate of growth is expected to accelerate meaningfully, with the forecast 39% annualised revenue growth to the end of 2023 noticeably faster than its historical growth of 8.0% p.a. over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 9.1% annually. Factoring in the forecast acceleration in revenue, it's pretty clear that ACWA POWER is expected to grow much faster than its industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts lifted their revenue estimates for this year. The analysts also expect revenues to grow faster than the wider market. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at ACWA POWER.

Want to learn more? We have analyst estimates for ACWA POWER going out to 2025, and you can see them free on our platform here.

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.

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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.