Aramco to announce its second-quarter results on August 6

Saudi Aramco intends to announce its results for the second quarter on August 6, 2024, according to what it announced on its website.

The company indicated that the results of the first half will be broadcast electronically at 1:00 pm Riyadh time.

It is noteworthy that the company’s profits in the second quarter of 2023 amounted to 112.8 billion riyals, while the profits of the first half of the same year amounted to 232.4 billion riyals.

Saudi Aramco achieved 102.3 billion riyals in profits at the end of the first quarter of this year, a 14.4% decrease from the profits of the same quarter of the previous year, which were 119.5 billion riyals.

This decrease is primarily due to a decrease in the quantities of crude oil sold, weak profit margins in the refining and chemicals business, and a decrease in financing and other income. This was partially offset by lower rents on crude oil production, higher crude oil prices compared to the same period of the previous year, and lower income taxes and zakat.