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×Saudi cement firms’ Q3 profit falls 20% below estimates
The aggregate net profit of Saudi-listed cement producers at SAR 310.7 million in Q3 2017, missed average estimates of SAR 390 million by 20 percent, data compiled by Argaam showed.
Yanbu Cement Co. reported the biggest miss of 73 percent, recording a net profit of SAR 18 million in Q3.
Eastern Province Cement came second, as its net income of SAR 14 million came in 52 percent below estimates.
Umm Al-Qura Cement’s net profit missed estimates by 33 percent.
On the positive side, City Cement was the top performer, beating forecasts by 95 percent, with a net income of SAR 19.2 million in the same period, compared to analysts’ expectations of SAR 9.8 million.
Yamama Cement topped estimates by 35 percent, followed by Saudi Cement (4 percent) and Qassim Cement (3 percent).
Company Estimates Comparisons
Company | 2017 - Q3 (a) | 2017 - Q3 (e) | Change |
YCC | 17.97 | 66.75 | (73.1 %) |
SAUDI CEMENT | 87.35 | 83.75 | 4.3 % |
QACCO | 51.24 | 49.77 | 3.0 % |
SPCC | 57.16 | 84.01 | (32.0 %) |
YSCC | 29.15 | 21.59 | 35.0 % |
ACC | 29.51 | 37.79 | (21.9 %) |
EPCCO | 13.88 | 28.88 | (51.9 %) |
CITY CEMENT | 19.24 | 9.85 | 95.3 % |
UACC | 5.11 | 7.60 | (32.8 %) |
Total | 310.61 | 389.98 | (20.4 %) |
Actual Profit versus Estimates
Company | 2017 - Q3 (a) | 2017 - Q3 (e) | Most Accurate Research Company |
YCC | 17.97 | 57.20 | AlJazira Capital |
SAUDI CEMENT | 87.35 | 88.00 | Al Rajhi Capital |
QACCO | 51.24 | 51.54 | Alistithmar Capital |
SPCC | 57.16 | 77.20 | AlJazira Capital |
YSCC | 29.15 | 28.00 | SNB Capital |
ACC | 29.51 | 29.40 | AlJazira Capital |
EPCCO | 13.88 | 27.00 | SNB Capital |
CITY CEMENT | 19.24 | 11.10 | OSOOL AND BAKHEET |
UACC | 5.11 | 7.60 | OSOOL AND BAKHEET |
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MarketIndices
TASI | 12,355.69 | (128.72) | (1.03 %) |
Company Indices
ACC | 30.90 | (0.95) | (2.97%) |
EPCCO | 33.90 | (0.20) | (0.58%) |
QACCO | 57.00 | (0.70) | (1.20%) |
SAUDI CEMENT | 46.55 | 0.30 | 0.64% |
SPCC | 39.80 | (0.25) | (0.63%) |
TCC | 12.74 | (0.08) | (0.63%) |
YSCC | 32.35 | 0.05 | 0.16% |
YCC | 28.25 | (0.60) | (2.08%) |
HCC | 11.26 | (0.04) | (0.35%) |
JOUF CEMENT | 11.48 | (0.12) | (1.03%) |
NORTHERN CEMENT | 9.72 | (0.05) | (0.51%) |
NAJRAN CEMENT | 9.90 | (0.05) | (0.50%) |
CITY CEMENT | 19.80 | (0.12) | (0.61%) |
UACC | 15.58 | (0.22) | (1.39%) |
RIYADH CEMENT | 27.30 | (1.00) | (3.54%) |
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