Saudi Basic Industries Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2024
November 11, 2024 at 03:00 pm EST
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Saudi Basic Industries Corporation reported earnings results for the third quarter and nine months ended September 30, 2024. For the third quarter, the company reported sales was SAR 36,880.15 million compared to SAR 35,975.3 million a year ago. Net income was SAR 1,003.62 million compared to net loss of SAR 2,876.36 million a year ago. Basic earnings per share from continuing operations was SAR 0.36 compared to SAR 0.18 a year ago. Basic earnings per share was SAR 0.33 compared to basic loss per share of SAR 0.96 a year ago.
For the nine months, sales was SAR 105,284.57 million compared to SAR 106,505.05 million a year ago. Net income was SAR 3,433.37 million compared to net loss of SAR 1,041.03 million a year ago. Basic earnings per share from continuing operations was SAR 1.32 compared to SAR 0.93 a year ago. Basic earnings per share was SAR 1.14 compared to basic loss per share of SAR 0.35 a year ago.
Saudi Basic Industries Corporation SJSC is a Saudi Arabia-based company, which is engaged, together with its subsidiaries, in the manufacturing, marketing and distribution of chemical, agri-nutrient and metal products in global markets. The Company operates under the following business segments: The Chemicals segment, which includes chemicals, polymers and plastic products; the Agri-Nutrients segment, which consists of fertilizer products; the Metals segment, which consists of steel products, as well as the Corporate segment, which includes the corporate operations, technology and innovation centers, investment activities and SABIC Industrial Investments Company (SIIC). The Companyâs subsidiaries include: Saudi European Petrochemical Co, Arabian Petrochemical Co and Fiber Reinforced Thermoplastics BV, among others.
SABIC 
