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Al Tayyar Travel profit misses consensus by 42.6% in Q4

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Al Tayyar Travel profit misses consensus by 42.6% in Q4

Al Tayyar Travel Group Holding Co. said its normalized net income for the fourth quarter was 82 halalas per share, compared with the S&P Capital IQ consensus estimate of 1.43 riyals per share.

EPS fell year over year from 85 halalas.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 164.2 million riyals, a decrease from 170.3 million riyals in the year-earlier period.

The normalized profit margin dropped to 7.5% from 7.8% in the year-earlier period.

Total revenue totaled 2.18 billion riyals, compared with 2.18 billion riyals in the prior-year period, and total operating expenses came to 1.91 billion riyals, compared with 1.90 billion riyals in the year-earlier period.

Reported net income decreased 7.0% year over year to 215.3 million riyals, or 1.08 riyals per share, from 231.5 million riyals, or 1.16 riyals per share.

For the year, the company's normalized net income totaled 3.92 riyals per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 6.18 riyals.

EPS rose 8.8% from 3.61 riyals in the prior year.

Normalized net income was 784.9 million riyals, a rise of 8.8% from 721.5 million riyals in the prior year.

Full-year total revenue grew 11.9% on an annual basis to 8.63 billion riyals from 7.71 billion riyals, and total operating expenses grew 12.5% year over year to 7.35 billion riyals from 6.53 billion riyals.

The company said reported net income increased on an annual basis to 1.16 billion riyals, or 5.81 riyals per share, in the full year, from 1.12 billion riyals, or 5.59 riyals per share.

As of Feb. 16, US$1 was equivalent to 3.75 Saudi Arabian riyals.