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Aldrees forecast to post profit growth in Q4 2022
In this report, Argaam highlights the expected results of Aldrees Petroleum and Transport Services Co. (Aldrees) for the fourth quarter of 2022, its key events and quarterly profit, as well as performance and profitability indicators.
The fourth-quarter revenue is projected to surge 25.36% year-on-year (YoY) to SAR 3.285 billion.
Quarter Revenue Changes (M Riyal)
| Item | Q4 2021 |
Q1 2022 |
Q2 2022 |
Q3 2022 |
Q4 2022 (Average Estimate) |
|---|---|---|---|---|---|
| Sales | 2,620.38 | 2,780.13 | 2,987.61 | 3,256.19 | 3,285.00 |
| Change % | 75.07% | 57.99% | 37.48% | 27.37% | 25.36% |
| Income from Affiliate | 0.52 | 0.45 | 0.50 | 0.41 | NA |
| Change % | (32.42%) | (70.19%) | (55.85%) | (46.01%) | NA |
Quarter Net Income Changes (M Riyal)
| Item | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 (Average Estimate) |
|---|---|---|---|---|---|
| Net Income | 54.09 | 62.42 | 45.92 | 61.71 | 65.00 |
| Extraordinary income/expense | 0.00 | 0.00 | 0.00 | 0.00 | - |
| Net Profit Before Unusual Items | 54.09 | 62.42 | 45.92 | 61.71 | - |
| EPS Before Unusual Items (Riyal/Share) | 0.54 | 0.62 | 0.46 | 0.62 | 0.65 |
Key events in Q4 2022
The company opened three new integrated services stations in Qassim, Muhayil Asir and Al-Namas. This will likely reflect positively on Q4 2022 financials.
Quarterly Profit and Revenue (M Riyal)
Average estimates
The company is expected to report a rise in Q4 2022 net profit to SAR 65 million, from SAR 54 million in the year-ago period, according to estimates of two research firms.
Quarterly Actuals vs Estimates (M Riyal)
Average Estimate (M Riyal)
| Analyst | Million Riyals |
|---|---|
| EFG-Hermes KSA | 67.00 |
| Al Rajhi Capital Company | 63.00 |
| Average | 65.00 |
| Net Profit Before Unusual Items (2021 - Q4) | 54.09 |
| Change % | 20.18% |
Performance and Profitability Indicators:
The following table shows the stock's performance trailing 12 months and year to date, as well as its P/E and earnings per share:
Stock Performance
| Item | The Company | TASI |
|---|---|---|
| YTD | (2.93 %) | 1.71 % |
| Change(12M) | 45.44 % | (11.42 %) |
| Previous Close | 59.57 | 10,726.87 |
| P/E adjusted (x) | 24.63 | 19.40 |
| EPS (TTM) before unusual items (SAR/Share) | 2.24 | - |
Valuation Data (Latest Share Price)
| P/E (TTM) | 40.76 |
| P/E Before Unusual Items (TTM) | 41.24 |
| P/BV | 9.29 |
| Dividend Yield | 0.56 % |
| Market Cap. (M) | 12,920.00 |
| Return on Average Assets | 4.12 % |
| Return on Average Equity | 24.78 % |
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