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Arabian Drilling Co. (ADC) reported a net profit of SAR 422 million in the first nine months of 2023, compared to SAR 421 million in the prior-year period.
Financials (M)
Item | 9m 2022 | 9m 2023 | Change |
---|---|---|---|
Revenues | 1,953.26 | 2,489.51 | 27.5 % |
Gross Income | 560.01 | 702.99 | 25.5 % |
Operating Income | 446.56 | 563.72 | 26.2 % |
Net Income | 421.03 | 421.81 | 0.2 % |
Average Shares | 80.00 | 89.00 | 11.3 % |
EPS (Riyals) | 5.26 | 4.74 | (9.9 %) |
The nine-month earnings were spurred by higher rig activity and day rates.
On the other hand, the results included a one-off tax credit adjustment of SAR 64 million in the same period of 2022.
Current Quarter Comparison (M)
Item | Q3 2022 | Q3 2023 | Change |
---|---|---|---|
Revenues | 701.84 | 919.58 | 31.0 % |
Gross Income | 216.42 | 266.68 | 23.2 % |
Operating Income | 177.47 | 212.34 | 19.6 % |
Net Income | 213.37 | 140.04 | (34.4 %) |
Average Shares | 80.00 | 89.00 | 11.3 % |
EPS (Riyals) | 2.67 | 1.57 | (41.0 %) |
Item | Q2 2023 | Q3 2023 | Change |
---|---|---|---|
Revenues | 790.65 | 919.58 | 16.3 % |
Gross Income | 229.05 | 266.68 | 16.4 % |
Operating Income | 179.09 | 212.34 | 18.6 % |
Net Income | 140.29 | 140.04 | (0.2 %) |
Average Shares | 89.00 | 89.00 | - |
EPS (Riyals) | 1.58 | 1.57 | (0.2 %) |
The third-quarter net profit dropped 34.4% to SAR 140 million from SAR 213.3 million in Q3 2022, due to higher finance costs and a one-off tax credit adjustment of SAR 64 million in Q3 2022.
ADC’s bottom line was flat on a quarter-on-quarter (QoQ) basis, as contribution from higher rig activity with the start-up of three new offshore rigs was offset by higher finance cost.
Total shareholders’ equity, no minority interest, increased to SAR 6.01 billion as of Sept. 30, 2023, from SAR 4.58 billion in the year-earlier period.
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- TASI
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Energy
- 2222 - SAUDI ARAMCO
- 2030 - SARCO
- 2380 - PETRO RABIGH
- 4030 - BAHRI
- 4200 - ALDREES
- 2381 - ARABIAN DRILLING
- 2382 - ADES
- 1201 - TAKWEEN
- 1202 - MEPCO
- 1210 - BCI
- 1211 - MAADEN
- 1301 - ASLAK
- 1304 - ALYAMAMAH STEEL
- 1320 - SSP
- 2001 - CHEMANOL
- 2010 - SABIC
- 2020 - SABIC AGRI-NUTRIENTS
- 2090 - NGC
- 2150 - ZOUJAJ
- 2170 - ALUJAIN
- 2180 - FIPCO
- 2200 - APC
- 2210 - NAMA CHEMICALS
- 2220 - MAADANIYAH
- 2240 - ZAMIL INDUST
- 2250 - SIIG
- 2290 - YANSAB
- 2300 - SPM
- 2310 - SIPCHEM
- 2330 - ADVANCED
- 2350 - SAUDI KAYAN
- 3002 - NAJRAN CEMENT
- 3003 - CITY CEMENT
- 3004 - NORTHERN CEMENT
- 3005 - UACC
- 3010 - ACC
- 3020 - YSCC
- 3030 - SAUDI CEMENT
- 3040 - QACCO
- 3050 - SPCC
- 3060 - YCC
- 3080 - EPCCO
- 3090 - TCC
- 3091 - JOUF CEMENT
- 3092 - RIYADH CEMENT
- 2060 - TASNEE
- 3008 - ALKATHIRI
- 3007 - OASIS
- 1321 - EAST PIPES
- 1322 - AMAK
- 2223 - LUBEREF
- 2360 - SVCP
- 1212 - ASTRA INDUSTRIAL
- 1302 - BAWAN
- 1303 - EIC
- 2040 - SAUDI CERAMICS
- 2110 - SAUDI CABLE
- 2160 - AMIANTIT
- 2320 - ALBABTAIN
- 2370 - MESC
- 4140 - SIECO
- 4141 - ALOMRAN
- 4142 - RIYADH CABLES
- 1214 - SHAKER
- 4110 - BATIC
- 4143 - TALCO
- 4031 - SGS
- 4040 - SAPTCO
- 4260 - BUDGET SAUDI
- 2190 - SISCO HOLDING
- 4261 - THEEB
- 4263 - SAL
- 4262 - LUMI
- 1810 - SEERA
- 6013 - DWF
- 1820 - ALHOKAIR GROUP
- 4170 - TECO
- 4290 - ALKHALEEJ TRNG
- 6002 - HERFY FOODS
- 1830 - Leejam Sports
- 6012 - RAYDAN
- 4291 - NCLE
- 4292 - ATAA
- 6014 - ALAMAR
- 6015 - AMERICANA
- 4003 - EXTRA
- 4008 - SACO
- 4050 - SASCO
- 4190 - JARIR
- 4240 - CENOMI RETAIL
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- 4051 - BAAZEEM
- 4192 - ALSAIF GALLERY
- 4001 - A.OTHAIM MARKET
- 4006 - FARM SUPERSTORES
- 4061 - ANAAM HOLDING
- 4160 - THIMAR
- 4161 - BINDAWOOD
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- 4163 - ALDAWAA
- 2050 - SAVOLA GROUP
- 2100 - WAFRAH
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- 6001 - HB
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- 2282 - NAQI
- 2283 - FIRST MILLS
- 4080 - SINAD HOLDING
- 2284 - MODERN MILLS
- 4002 - MOUWASAT
- 4004 - DALLAH HEALTH
- 4005 - CARE
- 4007 - ALHAMMADI
- 4009 - SAUDI GERMAN HEALTH
- 2230 - CHEMICAL
- 4013 - SULAIMAN ALHABIB
- 2140 - AYYAN
- 4014 - EQUIPMENT HOUSE
- 4017 - FAKEEH CARE
- 1010 - RIBL
- 1020 - BJAZ
- 1030 - SAIB
- 1050 - BSF
- 1060 - SAB
- 1080 - ANB
- 1120 - ALRAJHI
- 1140 - ALBILAD
- 1150 - ALINMA
- 1180 - SNB
- 2120 - SAIC
- 4280 - KINGDOM
- 4130 - ALBAHA
- 4081 - NAYIFAT
- 1111 - TADAWUL GROUP
- 4082 - MRNA
- 1182 - AMLAK
- 1183 - SHL
- 8010 - TAWUNIYA
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- 8020 - MALATH INSURANCE
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- 8040 - ALLIANZ SF
- 8050 - SALAMA
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- 8280 - LIVA
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Utilities
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- 9587 - LANA
- 9600 - QOMEL
- 9604 - MIRAL
- 9515 - FESH FASH
- 9532 - ALJOUF WATER
- 9536 - FADECO
- 9556 - NOFOTH
- 9559 - BALADY
- 9564 - HORIZON FOOD
- 9555 - LEEN ALKHAIR
- 9513 - WATANI STEEL
- 9514 - ALNAQOOL
- 9523 - GROUP FIVE
- 9539 - AQASEEM
- 9548 - APICO
- 9553 - MOLAN
- 9565 - MEYAR
- 9552 - SAUDI TOP
- 9563 - BENA
- 9566 - LIME INDUSTRIES
- 9580 - ALRASHID INDUSTRIAL
- 9583 - UNITED MINING
- 9576 - PAPER HOME
- 9588 - RIYADH STEEL
- 9575 - MARBLE DESIGN
- 9599 - TAQAT
- 9601 - ALRASHEED
- 9605 - NEFT ALSHARQ
- 9607 - ASG
- 9510 - NBM
- 9528 - GAS
- 9531 - OBEIKAN GLASS
- 9533 - SPC
- 9529 - RAOOM
- 9525 - ALWASAIL INDUSTRIAL
- 9542 - KEIR
- 9547 - RAWASI
- 9568 - MAYAR
- 9569 - ALMUNEEF
- 9578 - ATLAS ELEVATORS
- 9560 - WAJA
- 9540 - TADWEEER
- 9545 - ALDAWLIAH
- 9570 - TAM DEVELOPMENT
- 9581 - CLEAN LIFE
- 9593 - PAN GULF
- 9597 - LEAF
- 9608 - ALASHGHAL ALMOYSRA
- 9520 - BURGERIZZR
- 9541 - ACADEMY OF LEARNING
- 9567 - GHIDA ALSULTAN
- 9562 - FOOD GATE
- 9590 - ARMAH
- 9526 - JAHEZ
- 9598 - ALMOHAFAZA
- 9603 - HORIZON EDUCATIONAL
Share Price
Arabian Drilling Co. (ARABIAN DRILLING)
Current | |
Market Cap (M Riyal) | 10,733.40 |
Enterprise Value (EV) (M) | 13,050.62 |
Shares Outstanding ((M)) | 89.00 |
EPS ( Riyal) (TTM) | 5.50 |
Book Value (BV) ( Riyal) | 66.33 |
Par Value ( Riyal) | 10.00 |
Adjusted P/E (Last12) | 18.06 |
P/E (TTM) | 21.94 |
Price/book | 1.82 |
Return on Average Assets (%) (TTM) | 4.8 |
Return on Average Equity (%) (TTM) | 8.3 |
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