What was SASCO's net loss in Q1 2026?

SASCO reported a net loss of SAR 23.7 million, compared to a net profit of SAR 4.28 million in the same quarter last year.

What was SASCO's revenue in Q1 2026?

Revenue reached SAR 3.02 billion, up 9.46% year-on-year.

Why did SASCO swing to a loss despite higher revenue?

Due to higher cost of sales, increased ECL provisions, lower other income, and higher financing and zakat expenses.

What was SASCO's EPS in Q1 2026?

EPS was SAR -0.34, compared to SAR 0.06 in the same quarter last year.

SASCO Posts SAR 23.7M Net Loss in Q1 2026

SASCO (4050) posted a net loss of SAR 23.7 million in the first quarter of 2026, compared to a net profit of SAR 4.28 million in the same period last year. The loss came despite a 9.46% increase in revenue to SAR 3.02 billion, driven by higher costs and provisions.

Saudi Automotive Services Co. (SASCO) announced its interim financial results for the three months ended March 31, 2026, reporting a net loss of SAR 23.7 million, versus a net profit of SAR 4.28 million in the year-ago period. The loss occurred despite a 9.46% year-on-year increase in revenue to SAR 3.02 billion.

Key Financial Results

Item	Current Quarter (SAR million)	Comparable Quarter (SAR million)	Change (%)
Revenue	3,021.49	2,760.43	+9.46%
Net Profit (Loss)	(23.70)	4.28	-654%
Earnings Per Share (SAR)	(0.34)	0.06	-667%

Highlights from the Statement

Revenue growth of 9.46% was driven by volume growth from an expanded station network, diesel price increases, and new SASCO Palm locations.
The swing to loss was primarily due to higher cost of sales, increased expected credit loss (ECL) provisions, lower other income, and higher financing and zakat expenses.
Quarter-on-quarter, revenue declined 2.65% from SAR 3,103.8 million in the previous quarter, and net profit turned from a profit of SAR 21.89 million to a loss of SAR 23.7 million.
Shareholders' equity increased 1.3% to SAR 865.02 million.
The external auditor issued an unmodified conclusion with no additional comments.

Guidance

The company did not provide any forward guidance in the announcement.

Impact on the Stock

The large net loss is likely to weigh on investor sentiment in the near term, especially given the negative EPS of SAR -0.34. However, the continued revenue growth may be viewed positively if the trend persists.

What This Means for Investors

The results highlight significant cost pressures facing SASCO despite revenue growth. Investors should monitor the company's ability to improve gross margins and reduce costs in the coming quarters.