‎Riyad Capital issues Q2 2023 earnings estimates for banks, firms

‎Riyad Capital issues Q2 2023 earnings estimates for banks, firms

Riyad Capital issued Q2 2023 earnings forecasts for several banks and companies under coverage, with Al Rajhi Bank and Saudi Basic Industries Corp. (SABIC) in the lead. 

Riyad Capital expected SABIC to report a profit decline of 85% year-on-year (YoY) to SAR 1.22 billion in Q2 2023, while Al Rajhi Bank is forecast to post earnings drop of 4% 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 Q2 2023:







Riyad Capital Q2 2023 Profit Estimates











Company







Q2 2023







Change YoY







Average Profit Forecasts









Banks











BSF





1132





+35%





Average Forecasts











SAB





1858





+72%





Average Forecasts











ANB





1096





+55%





Average Forecasts











Al Rajhi





4107





(4%)





Average Forecasts











Albilad





567





+11%





Average Forecasts