Saudi Steel Pipes Company reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was SAR 211.82 million compared to SAR 88.48 million a year ago. Net income was SAR 11.74 million compared to net loss of SAR 8.08 million a year ago. Basic earnings per share from continuing operations was SAR 0.25 compared to basic loss per share from continuing operations of SAR 0.14 a year ago. Diluted earnings per share from continuing operations was SAR 0.24 compared to diluted loss per share from continuing operations of SAR 0.14 a year ago.
For the six months, sales was SAR 395.9 million compared to SAR 180.55 million a year ago. Net income was SAR 26.27 million compared to net loss of SAR 16.56 million a year ago. Basic earnings per share from continuing operations was SAR 0.53 compared to basic loss per share from continuing operations of SAR 0.33 a year ago. Diluted earnings per share from continuing operations was SAR 0.53.