Saudi Arabian Oil Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags
SAUDI ARAMCO 2222.SA | 28.00 | +0.18% |
Saudi Arabian Oil (TADAWUL:2222) Third Quarter 2024 Results
Key Financial Results
- Revenue: ر.س464.6b (down 5.0% from 3Q 2023).
- Net income: ر.س97.6b (down 21% from 3Q 2023).
- Profit margin: 21% (down from 25% in 3Q 2023).
- EPS: ر.س0.40 (down from ر.س0.51 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Saudi Arabian Oil Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 2.3%.
Looking ahead, revenue is forecast to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Asia are expected to remain flat.
The company's shares are up 3.7% from a week ago.
Risk Analysis
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