Theeb Rent A Car (TADAWUL:4261) First Quarter 2024 Results

Key Financial Results

• Revenue: ر.س306.6m (up 17% from 1Q 2023).
• Net income: ر.س40.5m (down 4.3% from 1Q 2023).
• Profit margin: 13% (down from 16% in 1Q 2023). The decrease in margin was driven by higher expenses.
• EPS: ر.س0.94 (down from ر.س0.98 in 1Q 2023).

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

Theeb Rent A Car Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 17%.

Looking ahead, revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Transportation industry in Asia.

Performance of the market in Saudi Arabia.

The company's shares are up 3.9% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 3 warning signs for Theeb Rent A Car (1 is a bit concerning!) that you should be aware of.

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