Aljazira Capital Maintains Neutral Rating on Arabian Cement Co After Q2 Earnings

04:29 AM EDT, 07/28/2026 (MT Newswires) -- Aljazira Capital reiterated its neutral rating on Arabian Cement Co (SASE:3010), with a price target of 26.7 Saudi riyals, as it took note of the company's second-quarter results. For the three-month period, the company logged a 48.3% yearly increase in its net income to 30.4 million riyals, which Aljazira Capital said Monday missed its estimate of 47.8 million riyals and the market consensus of 48.3 million riyals. On the other hand, revenue edged down 1.6% year over year to 229 million riyals, below the research firm's 233 million-riyal forecast. "Arabian Cement posted a weak set of [results] in Q2-2026, reflecting continued pressure on gross margins Q/Q from elevated feedstock costs, and weak volume due to seasonal factors during the quarter, despite Y/Y improvement in CPT. Nevertheless, resilient ASPs reinforce pricing discipline and position the company for stronger earnings once demand recovers," analysts said.