Riyad Capital previews Q2 2026 earnings for 8 listed companies

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Riyad Capital issued its earnings forecasts for Q2 2026 for companies in the food industries, retail, consumer services, and capital goods sectors.

The report outlined the expected performance of eight companies, as follows:

Almarai: Riyad Capital expects Almarai's revenue to grow 8% year-on-year (YoY) and decline 7% quarter-on-quarter (QoQ) to SAR 5.7 billion in Q2 2026. The decline on a quarterly basis is expected due to the higher base of the strong performance of the dairy segment in Q1, which was supported by the seasonality of Ramadan.

It also expects the gross margin to contract to 31.5% from 32.4% a year earlier, while net profit is anticipated to remain broadly stable YoY at SAR 648 million in Q2 2026.

Jarir: The company's revenue is expected to increase 10% YoY, despite the quarter typically being one of the weakest periods. Gross margin is also seen to remain broadly stable YoY at 10.5%, backed by changes in the sales mix.

Net profit is forecast to climb 10% YoY to SAR 216 million during the second quarter, driven by improved operating efficiency. As for the stock's performance, it witnessed higher interest from investors during the past period, rising 4% over the past month, while the benchmark index declined 2% during the same period.

BinDawood Holding: Revenue is expected to modestly rise by 6% YoY to SAR 1.6 billion in Q2 2026. Gross margin is expected to decline YoY to 32%, bolstered by inflationary pressures, including higher energy costs and alternative shipping routes-related costs from the Strait of Hormuz, in addition to intensifying competition in the grocery sector.

MC4: Revenue is expected to record low single-digit growth YoY, supported by exports and seasonal factors. Net profit is expected to grow by a high single digit, reaching SAR 36 million during the second quarter.

Riyadh Cables: Revenue is expected to reach SAR 2.8 billion in Q2 2026, driven by the continued strength of the business backlog, representing 3% YoY growth. Gross margin is anticipated to decline by 60 basis points (bps) YoY, while the net margin is expected to expand by 20 bps, supported by lower operating expenses. Accordingly, net profit is forecast to increase by 5% YoY to SAR 294 million.

Burgerizzr: The brokerage expects a 30% revenue growth, driven by an increase in the number of branches as well as the contribution from its subsidiary (Shovel).

Gross margin is expected to widen to 35%, compared with 29% in the same quarter of the previous year, while net profit is expected to reach SAR 6.2 million in Q2 2026.

Nahdi: Revenue is expected to grow at a steady pace of 6% YoY, while the gross margin is expected to inch down, even during this seasonal period that typically experiences stronger sales. This is due to the increased contribution of the lower-margin Wasfaty service.

Revenue growth is expected to lift operating profit to SAR 260 million, representing 5% YoY growth, while net profit is projected to decline 2% YoY.

Aldawaa: Following Nahdi's entry into the Wasfaty program in late 2025, Riyad Capital revised its revenue forecasts for Aldawaa, expecting continued pressure resulting from the loss of market share to Nahdi through the Wasfaty program. Accordingly, it expects revenue to decline 9% YoY in Q2 2026, driven primarily by the impact of the Wasfaty program, in addition to certain seasonal factors.