Rabigh Refining and Petrochemical Full Year 2023 Earnings: Misses Expectations






Rabigh Refining and Petrochemical (TADAWUL:2380) Full Year 2023 Results

Key Financial Results

  • Revenue: ر.س44.6b (down 20% from FY 2022).
  • Net loss: ر.س4.69b (loss widened by 321% from FY 2022).
  • ر.س2.81 loss per share (further deteriorated from ر.س0.79 loss in FY 2022).
SASE:2380 Earnings and Revenue Growth March 30th 2024

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

Rabigh Refining and Petrochemical Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 12%.

Looking ahead, revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 1.0% decline forecast for the Oil and Gas industry in Asia.

Performance of the market in Saudi Arabia.

The company's shares are down 6.6% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Rabigh Refining and Petrochemical that you should be aware of.

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