SABIC to Release Q4 Results, on Thursday

Find out analysts’ expectations, on the company’s profits’ prospects

On next Thursday, Yousef bin Abdullah Al-Bunyan, Vice Chairman and CEO of SABIC will host a virtual press conference, to provide insight into the company’s fourth-quarter performance, in 2021.

Analysts expect the company to earn profits of about SR5.9 billion in the quarter ending December 31, 2021, a significant increase of 166% over the profits of the same quarter last year, which at SR2.22 billion, and a 5.5% increase over the profits of Q3-2021, at SR5.6 billion.

If the earnings come in as projected, the company will be profitable for the sixth quarter in a row, following three consecutive quarters of losses from Q4-2019 to Q2-2020.

Osoul and Bakheet Investment Company were the most optimistic about SABIC’s profits among the expert houses, with the company likely to achieve SR7.2 billion in profits, followed by Al-Jazira Capital with expectations of SR5.6 billion, while SNB Capital’s expectations were the lowest, with a value of SR5.5 billion.

According to Maaal newspaper’s analysis of SABIC’s statistics during the past 47 quarters, from Q1-2010 to Q3-2021, the company increased in 24 quarters on an annual basis, while declining in the remaining 23 quarters.

It’s worth noting that SABIC earned SR5.59 billion in profits in Q3-2021, which was less than the average projection of SR6.6 billion.

According to the corporation, the reason for the increase in net profit in Q3-2021 over the same quarter in 2020, is an increase in average selling prices of items.

However “Maaal” monitoring showed that the company’s enormous quarterly profits in the last 12 years were recorded in Q3-2011, totaled roughly SR8.2 billion.

A table comparing SABIC’s profits from Q1-2010 to Q3-2021

SABIC Financial Statements, Tadawul, Maaal follow up unit