City Cement Q1 2026 Net Profit Drops 41% to SAR 30.18M
City Cement Co. (3003) announced its Q1 2026 financial results, with net profit declining 41.4% YoY to SAR 30.18 million and revenue dropping 19.7% to SAR 119.91 million, driven by lower sales volume and value.
Key Numbers
City Cement Co. (3003) reported its interim financial results for the three months ended March 31, 2026, posting a net profit of SAR 30.18 million, down 41.4% from SAR 51.54 million in the same period last year. Revenue declined 19.7% to SAR 119.91 million, primarily due to decreased sales volume and value.
Key Financial Highlights
| Item | Current Quarter | Prior Year Quarter | Change % | Previous Quarter | Change % |
|---|---|---|---|---|---|
| Revenue | SAR 119.91M | SAR 149.27M | -19.7% | SAR 134.39M | -10.8% |
| Gross Profit | SAR 38.99M | SAR 61.17M | -36.2% | SAR 39.66M | -1.7% |
| Operating Profit | SAR 25.88M | SAR 47.97M | -46.0% | SAR 30.41M | -14.9% |
| Net Profit | SAR 30.18M | SAR 51.54M | -41.4% | SAR 32.26M | -6.4% |
| EPS | SAR 0.22 | SAR 0.37 | -40.5% | — | — |
Key Highlights from the Statement
The company attributed the YoY revenue decline to lower sales volume and value. On a QoQ basis, revenue fell 10.8% due to decreased sales volume coinciding with Ramadan, despite higher average selling prices. Net profit also declined 6.4% QoQ driven by the same factor.
The external auditor issued an unmodified opinion with no additional comments. Total shareholders' equity decreased 2.9% to SAR 1.79 billion compared to the prior year.
Guidance
The company did not provide any forward guidance.
Impact on the Stock
The weak results are expected to pressure City Cement's stock (3003) in the coming sessions, given the ongoing sales volume challenges.
What This Means for Investors
The results highlight operational headwinds, particularly declining sales volume. Investors should monitor demand trends in the cement sector, especially considering seasonal factors.
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