NCB Capital issues Q3 profit forecasts
NCB Capital (NCBC) has issued a Q3 earnings forecast for 41 Tadawul-listed companies under its coverage.
Saudi Basic Industries Corp. (SABIC) is expected to see a year-on-year profit decline of 9 percent to SAR 5.08 billion.
Yanbu National Petrochemical Co. (YANSAB) is forecast to be the only gainer in the sector, with a 103 percent YoY profit surge to SAR 614 million.
Advanced on Tuesday was the first petrochemical company to report earnings for the period, coming in at SAR 188 million, close to NCB’s estimates of SAR 198 million.
Meanwhile, forecasts were positive for six out of ten banks under its coverage. Al Rajhi Bank is likely to report a net profit of SAR 1.9 billion, a rise of 11 percent YoY. Saudi Investment Bank (SAIB) is projected to register 7 percent profit decline to SAR 329 million.
NCBC added that cement firms under coverage will likely report lower profit, dragged by Eastern Province Cement Co. with a YoY profit drop of 35 percent.
In the telecommunications sector, Saudi Telecom Co.’s (STC) earnings are forecast to fall 20 percent YoY.
State-owned utility Saudi Electricity Co. is seen to post a 35 percent profit drop to SAR 1.9 billion in the same period.
NCB Capital Profit Estimates (SAR mln) |
||
Company |
Q3 forecast |
YoY change |
Al Rajhi Bank |
1,904 |
+11% |
Banque Saudi Fransi |
1,098 |
+8% |
Riyad Bank |
943 |
+5% |
SABB |
1,126 |
(1%) |
Saudi Investment Bank |
329 |
(7%) |
Samba |
1,336 |
(3%) |
Saudi Hollandi Bank |
502 |
+2% |
ANB |
770 |
+1% |
Bank Albilad |
193 |
(5%) |
Bank Aljazira |
175 |
+6% |
Sabic |
5,081 |
(9%) |
SIIG |
204 |
(2%) |
Yansab |
614 |
+103% |
Advanced Petrochemicals |
198 |
(15%) |
Tasnee |
149 |
-- |
Sipchem |
22 |
(69%) |
Sahara Petrochemicals |
105 |
(14%) |
Safco |
253 |
(55%) |
Kayan |
95 |
-- |
Petrochem |
192 |
(40%) |
Yamama Cement |
73 |
(23%) |
Eastern Province Cement |
43 |
(35%) |
Qassim Cement |
88 |
(24%) |
Southern Province Cement |
201 |
(1%) |
Saudi Cement |
191 |
(8%) |
Yanbu Cement |
120 |
(17%) |
STC |
1,757 |
(20%) |
Mobily |
25 |
-- |
Zain |
(274) |
-- |
Savola |
228 |
(39%) |
Almarai |
627 |
+5% |
eXtra |
(9) |
(22%) |
Al Hokair |
269 |
(13%) |
Shaker |
31 |
(32%) |
Jarir |
195 |
(11%) |
Al Othaim |
29 |
(21%) |
Dar Alarkan |
55 |
(41%) |
Taiba |
75 |
(27%) |
Akaria |
19 |
(52%) |
Saudi Electricity |
1,902 |
(35%) |
Saudi Steel Pipe |
9 |
+46% |
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