Riyad Capital issued Q3 2023 earnings forecasts for several banks and companies under coverage, with Saudi Basic Industries Corp. (SABIC), Al Rajhi Bank, and Saudi Electricity Co. (SEC) in the lead.
Riyad Capital expected SABIC to incur losses of SAR 717 million, while Al Rajhi Bank is forecast to post an earnings drop of 4% year-on-year (YoY) to SAR 4.1 billion in the three-month period.
The following table shows Riyad Capital’s earnings forecasts for banks and firms under coverage for Q3 2023:
|
Riyad Capital Q3 2023 Profit Estimates (SAR mln) |
||
|
Company |
Q3 2023 (Projected) |
Change YoY |
|
Banks |
||
|
BSF |
1,205 |
+25% |
|
SAB |
1,664 |
+19% |
|
ANB |
998 |
+8% |
|
Al Rajhi Bank |
4,164 |
(4%) |
|
Bank Albilad |
597 |
+10% |
|
Alinma Bank |
1,310 |
+32% |
|
SNB |
5,134 |
+9% |
|
Petrochemicals |
||
|
SABIC |
(717) |
-- |
|
SABIC Agri-Nutrients |
820 |
(65%) |
|
Tasnee |
115 |
+573% |
|
Yansab |
(126) |
-- |
|
Sipchem |
426 |
(45%) |
|
Advanced |
59 |
+119% |
|
Saudi Kayan |
(321) |
-- |
|
SIIG |
132 |
+141% |
|
Telecommunications |
||
|
stc |
4084 |
+15% |
|
Mobily |
584 |
+57% |
|
Zain KSA |
296 |
+247% |
|
Software and Services |
||
|
solutions |
349 |
+16% |
|
Elm |
403 |
+47% |
|
Health Care Equipment and Services |
||
|
Sulaiman Al Habib |
488 |
+16% |
|
Mouwasat |
148 |
+21% |
|
Cement |
||
|
Yamama Cement |
90 |
(11%) |
|
Saudi Cement |
75 |
(7%) |
|
Qassim Cement |
41 |
+75% |
|
Southern Cement |
35 |
(60%) |
|
Yanbu Cement |
45 |
(35%) |
|
Other Sectors |
||
|
Jarir |
257 |
(6%) |
|
Saudi Electricity* |
5172 |
-- |
|
BinDawood Holding |
54 |
-- |
|
MARAFIQ |
224 |
(28%) |
|
Riyadh Cables |
133 |
+43% |
|
Maaden |
645 |
-- |
|
Nahdi |
273 |
+8% |
|
Aldawaa |
60 |
+24% |
*Net profit before deducting speculation instruments
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