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.
Al Rajhi Capital expects Saudi Basic Industries Corporation (SABIC) to post net profit of SAR 1.429 billion, while stc’s earnings are expected to drop 28% 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
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.
*Except for revenues of construction sector
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.
Al Rajhi Capital expects Saudi Basic Industries Corporation (SABIC) to post net profit of SAR 1.429 billion, while stc’s earnings are expected to drop 28% 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
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.
*Except for revenues of construction sector
