Saudi Basic Industries Corp. said its normalized net income for the third quarter amounted to 94 halalas per share, compared with the S&P Capital IQ consensus estimate of 1.35 riyals per share.
EPS rose year over year from 93 halalas.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.82 billion riyals, an increase from 2.78 billion riyals in the prior-year period.
The normalized profit margin rose to 7.5% from 5.8% in the year-earlier period.
Total revenue declined 22.3% on an annual basis to 37.35 billion riyals from 48.07 billion riyals, and total operating expenses declined 23.6% year over year to 28.79 billion riyals from 37.66 billion riyals.
Reported net income decreased 9.3% on an annual basis to 5.60 billion riyals, or 1.87 riyals per share, from 6.18 billion riyals, or 2.06 riyals per share.
As of Oct. 21, US$1 was equivalent to 3.75 Saudi Arabian riyals.
