Riyadh Cement Full Year 2023 Earnings: EPS Misses Expectations






Riyadh Cement (TADAWUL:3092) Full Year 2023 Results

Key Financial Results

  • Revenue: ر.س643.4m (up 7.6% from FY 2022).
  • Net income: ر.س188.8m (flat on FY 2022).
  • Profit margin: 29% (down from 32% in FY 2022). The decrease in margin was driven by higher expenses.
  • EPS: ر.س1.57 (down from ر.س1.58 in FY 2022).
SASE:3092 Earnings and Revenue Growth March 30th 2024

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

Riyadh Cement EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%.

Looking ahead, revenue is forecast to grow 3.2% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Basic Materials industry in Saudi Arabia.

Performance of the Saudi Basic Materials industry.

The company's shares are up 1.8% from a week ago.

Risk Analysis

Before you take the next step you should know about the 1 warning sign for Riyadh Cement that we have uncovered.

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