Al Rajhi Capital released Q4 2019 earnings forecast for 31 Saudi-listed firms under its coverage.
Saudi Basic Industries Corporation (SABIC) is expected to post a 68% profit drop year-on-year (YoY) to SAR 1.05 billion in Q4 2019.
National Industrialization Co.’s (Tasnee) earnings are seen down 81% to SAR 36 million, while Saudi Arabia Fertilizers Co.’s (SAFCO) is estimated to make SAR 346 million in Q4, down 39% YoY.
Yamama Cement Co. is expected to report a more than eight-fold increase in the fourth quarter net profit to SAR 68 million. Also, Arabian Cement Co.’s earnings are forecast to rise more than three-fold to SAR 42 million in Q4.
In the telecom sector, Saudi Telecom Co.'s (STC) profit is expected to drop 12% YoY to SAR 2.74 billion.
Elsewhere, Almarai Co. is likely to post 50% profit hike YoY in the same quarter.
Fast food restaurant chain, Herfy, will see its net income 5% higher YoY to SAR 55 million.
Al Rajhi Capital's outlook for all retailers under coverage was positive except for Fawaz Abdulaziz Alhokair Co. which is expected to post a 10% profit drop YoY in Q3.
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Al Rajhi Capital’s Q4 Forecasts (SAR mln) |
||
|
Company |
Q4 2019 Estimates (SAR mln) |
YoY Variation |
|
Petrochemicals Sector |
||
|
SABIC |
1,052 |
(68%) |
|
Sipchem |
145 |
+263% |
|
SAFCO |
346 |
(39%) |
|
Tasnee |
36 |
(81%) |
|
Yansab |
289 |
+24% |
|
Advanced |
148 |
(10%) |
|
Cement Sector |
||
|
Arabian Cement |
80 |
+390% |
|
Yamama Cement |
68 |
+878% |
|
Saudi Cement |
107 |
(14%) |
|
Qassim Cement |
101 |
+155% |
|
Yanbu Cement |
71 |
+107% |
|
Southern Cement |
113 |
+119% |
|
Telecommunications |
||
|
STC |
2,738 |
(12%) |
|
Mobily |
40 |
(50%) |
|
Zain Saudi |
145 |
(68%) |
|
Food & Agriculture |
||
|
Almarai |
556 |
+50% |
|
Savola |
138 |
-- |
|
Herfy |
55 |
+5% |
|
Catering |
79 |
+4% |
|
Retail |
||
|
Jarir |
289 |
(0.3%) |
|
Alhokair* |
(76) |
-- |
|
Al Othaim |
175 |
+64% |
|
eXtra |
67 |
+6% |
|
Healthcare Sector |
||
|
Dallah |
35 |
+8% |
|
Mouwasat |
110 |
+29% |
|
Care |
17 |
+249% |
|
Al Hammadi |
23 |
+30% |
|
Other sectors |
||
|
Maaden |
(90) |
-- |
|
Leejam |
65 |
+21% |
|
Saudi Ceramics |
(58) |
-- |
|
SADAFCO* |
55 |
+2% |
*Q3
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