Riyad Capital issues Q3 2023 earnings forecasts

Riyad Capital issued Q3 2023 earnings forecasts for several banks and companies under coverage, with Saudi Basic Industries Corp. (SABIC), Al Rajhi Bank, and Saudi Electricity Co. (SEC) in the lead.

 

Riyad Capital expected SABIC to incur losses of SAR 717 million, while Al Rajhi Bank is forecast to post an earnings drop of 4% year-on-year (YoY) to SAR 4.1 billion in the three-month period.

 

The following table shows Riyad Capital’s earnings forecasts for banks and firms under coverage for Q3 2023:

 

Riyad Capital Q3 2023 Profit Estimates (SAR mln) 

Company

Q3 2023 (Projected)

Change YoY

Banks

BSF

1,205

+25%

SAB

1,664

+19%

ANB

998

+8%

Al Rajhi Bank

4,164

(4%)

Bank Albilad

597

+10%

Alinma Bank

1,310

+32%

SNB

5,134

+9%

Petrochemicals

SABIC

(717)

--

SABIC Agri-Nutrients

820

(65%)

Tasnee

115

+573%

Yansab

(126)

--

Sipchem

426

(45%)

Advanced

59

+119%

Saudi Kayan

(321)

--

SIIG

132

+141%

Telecommunications

stc

4084

+15%

Mobily

584

+57%

Zain KSA

296

+247%

Software and Services

solutions

349

+16%

Elm

403

+47%

Health Care Equipment and Services

Sulaiman Al Habib

488

+16%

Mouwasat

148

+21%

Cement

Yamama Cement

90

(11%)

Saudi Cement

75

(7%)

Qassim Cement

41

+75%

Southern Cement

35

(60%)

Yanbu Cement

45

(35%)

Other Sectors

Jarir

257

(6%)

Saudi Electricity*

5172

--

BinDawood Holding

54

--

MARAFIQ

224

(28%)

Riyadh Cables

133

+43%

Maaden

645

--

Nahdi

273

+8%

Aldawaa

60

+24%

*Net profit before deducting speculation instruments

Riyad Capital - Q3 2023 earnings forecasts 05/10/2023

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Quotes

STC
40.50
0.40 1.00%
ETIHAD ETISALAT
52.40
0.10 0.19%
SAUDI ELECTRICITY
16.88
0.16 0.96%
ALRAJHI
91.50
1.60 1.78%
ALBILAD
37.20
0.80 2.20%
ANB
20.16
0.06 0.30%
SAB
32.35
0.45 1.41%
BSF
33.25
0.15 0.45%
QACCO
53.50
0.30 0.56%
SAUDI CEMENT
42.30
0.00 0.00%
SPCC
33.80
0.15 0.45%
YC
33.80
(0.20) (0.59%)
YCC
23.72
(0.04) (0.17%)
TASNEE
10.20
0.04 0.39%
SABIC
67.20
0.70 1.05%
SABIC AGRI-NUTRIENTS
111.20
3.00 2.77%
SIIG
16.92
0.06 0.36%
YANSAB
37.10
(0.20) (0.54%)
JARIR
12.72
0.06 0.47%
SIPCHEM
24.30
0.18 0.75%
SAUDI KAYAN
6.85
0.05 0.74%
ALINMA
28.20
0.20 0.71%
MAADEN
49.70
(0.05) (0.10%)
ADVANCED
32.10
(0.10) (0.31%)
ZAIN KSA
10.24
0.02 0.20%
MOUWASAT
86.50
(1.10) (1.26%)
SOLUTIONS
277.40
1.80 0.65%
SNB
33.20
0.20 0.61%
ALDAWAA
78.30
0.20 0.26%
MARAFIQ
52.30
(1.00) (1.88%)
RIYADH CABLES
138.40
(7.60) (5.21%)
SULAIMAN ALHABIB
289.60
(9.00) (3.01%)
BINDAWOOD
6.60
0.02 0.30%
ELM
1,133.40
1.00 0.09%
NAHDI
118.00
0.60 0.51%


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