Qassim Cement (TADAWUL:3040) First Quarter 2024 Results

Key Financial Results

• Revenue: ر.س196.4m (up 13% from 1Q 2023).
• Net income: ر.س74.2m (up 35% from 1Q 2023).
• Profit margin: 38% (up from 32% in 1Q 2023).
• EPS: ر.س0.83 (up from ر.س0.61 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Qassim Cement Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 14%.

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Basic Materials industry in Saudi Arabia.

Performance of the Saudi Basic Materials industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Be aware that Qassim Cement is showing 2 warning signs in our investment analysis and 1 of those makes us a bit uncomfortable...

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