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
42.15
(0.30) (0.71%)
ETIHAD ETISALAT
51.80
(0.90) (1.71%)
SAUDI ELECTRICITY
16.40
(0.08) (0.49%)
ALRAJHI
88.00
(0.30) (0.34%)
ALBILAD
36.80
0.20 0.55%
ANB
18.94
(0.02) (0.11%)
SAB
33.80
(0.60) (1.74%)
BSF
31.20
0.00 0.00%
QACCO
52.30
(0.50) (0.95%)
SAUDI CEMENT
40.20
0.05 0.12%
SPCC
33.10
0.05 0.15%
YC
32.05
0.65 2.07%
YCC
23.00
(0.02) (0.09%)
TASNEE
10.68
(0.06) (0.56%)
SABIC
72.70
(0.20) (0.27%)
SABIC AGRI-NUTRIENTS
113.80
(1.80) (1.56%)
SIIG
17.84
(0.52) (2.83%)
YANSAB
39.80
(0.30) (0.75%)
JARIR
13.24
(0.10) (0.75%)
SIPCHEM
26.30
(0.10) (0.38%)
SAUDI KAYAN
7.78
(0.04) (0.51%)
ALINMA
28.10
(0.25) (0.88%)
MAADEN
56.40
0.20 0.36%
ADVANCED
36.35
0.15 0.41%
ZAIN KSA
10.56
(0.12) (1.12%)
MOUWASAT
94.10
(0.90) (0.95%)
SOLUTIONS
255.20
(4.80) (1.85%)
SNB
33.15
(0.50) (1.49%)
ALDAWAA
88.20
1.00 1.15%
MARAFIQ
58.80
3.30 5.95%
RIYADH CABLES
102.20
1.20 1.19%
SULAIMAN ALHABIB
286.20
0.20 0.07%
BINDAWOOD
7.12
0.19 2.74%
ELM
1,022.60
(3.60) (0.35%)
NAHDI
123.40
(1.00) (0.80%)


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