Riyad Capital: What to look for in Q3 earnings season?

06/10/2024 Argaam
*Includes Hail Cement estimates.


Riyad Capital issued Q3 2024 earnings forecasts for several banks and companies under coverage.

 

The following table shows Riyad Capital’s earnings forecasts for banks and firms in Q3 2024:

 

Riyad Capital’s Q3 2024 Profit Estimates (SAR mln)

Company

Q3 2024 (Projected)

Change (YoY)​

Petrochemicals

SABIC

1699

--

SABIC AN

838

(20%)

Tasnee

67

(14%)

Yansab

154

(196%)

Sipchem

169

(27%)

Advanced

47

+4%

Saudi Kayan

(221)

--

SIIG

65

(71%)

Banks

BSF

1139

(9%)

SAB

2007

+10%

ANB

1214

+15%

Al Rajhi Bank

4851

+17%

Bank Albilad

681

+11%

Alinma Bank

1446

+9%

SNB

5028

+0.4%

Telecommunications

stc

3615

(26%)

Mobily

658

+26%

Zain KSA

73

(74%)

Software and Services

solutions

390

+1%

Elm

409

+22%

Medical Equipment & Services

Sulaiman Al Habib

601

+10%

Mouwasat

162

+4%

Cement

Yamama Cement

101

+146%

Saudi Cement

99

+46%

Qassim Cement*

91

--

Southern Cement

41

(23%)

Yanbu Cement

41

+156%

Riyadh Cement

83

--

Other Sectors

Jarir

317

+7%

Saudi Electricity**

5946

+2%

BinDawood Holding

70

+100%

MARAFIQ

78

(59%)

Riyadh Cables

181

+36%

Maaden

1100

--

Nahdi

201

(6%)

Aldawaa

83

+17%

*Includes Hail Cement estimates.

**Net profit before deducting Mudaraba coupon.

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