Al Rajhi Capital issues Q3 2024 earnings forecasts for more Tadawul-listed firms

07/10/2024 Argaam
*Financial results of Qassim Cement and Hail Cement for Q3 2023 and Q3 2024 were merged.


Al Rajhi Capital issued Q3 2024 earnings forecasts for other Saudi-listed companies under its coverage after it earlier issued its earnings estimates for retail, agriculture and food industries.

 

The brokerage expects Saudi Basic Industries Corp. (SABIC) to post a net profit of SAR 1.42 billion, while stc’s earnings are forecast to drop 28% year-on-year (YoY).

 

Al Rajhi Capital’s Q3 Earnings Forecasts (SAR mln)

Company

Q3

 2024 (Projected)

Change YoY

Q3 2023

Petrochemicals

SABIC

1429

--

Sipchem

147

(37%)

SABIC AN

952

(9%)

Yansab

152

--

Advanced

25

(44%)

Cement

Arabian Cement

44

+47%

Yamama Cement

112

+173%

Saudi Cement

99

+46%

Qassim Cement*

96

--

Yanbu Cement

39

+152%

Southern Cement

43

(19%)

Najran Cement

20

+43%

Riyadh Cement

91

--

Telecoms

stc

3516

(28%)

Mobily

664

+27%

Zain KSA

84

(71%)

Healthcare

Dallah

134

+35%

Mouwasat

173

+11%

Care

66

(10%)

Al Hammadi

65

(13%)

Fakeeh

85

+6%

Sulaiman Al Habib

580

+6%

Saudi German Health

54

+2%

Pharmaceuticals

SPIMACO

14

--

Jamjoom Pharma

91

+18%

Astra Industrial

128

+24%

Avalon Pharma

26

--

Insurance

Bupa Arabia

295

+7%

Tawuniya

201

(2%)

GIG

13

+30%

Malath

(24)

--

Walaa Insurance

13

(68%)

Saudi Re

29

(15%)

Transport & Logistics

Lumi Rental

42

+20%

Theeb

43

+26%

Budget Saudi

77

+7%

SISCO**

11

(54%)

SAL

170

+47%

Other Sectors

Bawan

31

(23%)

Saudi Ceramics

(3)

--

Equipment House

19

+6%

Aldrees

86

+27%

Arabian Drilling

120

(14%)

ADES Holding

193

+130%

Luberef

267

(21%)

solutions

407

+5%

MIS

45

--

2P

45

+32%

Elm

430

+29%

Rasan

30

+7%

Alkhorayef Water

60

+43%

Miahona

11

(42%)

ACWA Power

268

(33%)

Al Arabia

56

(11%)

AMAK

38

+631%

SMASCO

44

--

Seera

50

+108%

Tadawul Group

148

+45%

Leejam Sports

99

+8%

Riyadh Cables

168

+26%

*Financial results of Qassim Cement and Hail Cement for Q3 2023 and Q3 2024 were merged.

**Excluding revenues of construction sector

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