Mouwasat Medical Services Company reported fourth-quarter earnings that outpaced expectations, delivering a net profit of SAR238.4 million for the period, according to a Morgan Stanley report released Thursday.
The reported net income beat Morgan Stanley’s projection by 59% and topped market consensus by 32.3%. On a year-over-year basis the company’s fourth-quarter profit was 38.7% higher than the comparable quarter last year.
Revenue for the quarter reached SAR884.6 million, surpassing Morgan Stanley’s estimate of SAR785.9 million by 12.6% and exceeding the consensus forecast of SAR862.9 million by 2.5%. The quarterly top line also showed a 17.1% increase from SAR755.5 million recorded in the fourth quarter of 2024.
Profitability improved alongside the revenue gains. Mouwasat’s net margin in the quarter came in at 26.9%, up from 22.7% in the same period a year earlier. That margin outperformance represented a 7.9 percentage point uplift versus Morgan Stanley’s 19.1% estimate.
The Morgan Stanley report attributed the revenue beat primarily to stronger patient traffic and higher occupancy rates in inpatient departments. Those operational drivers were cited as the main contributors to the company’s better-than-expected top-line and margin performance for the quarter.
Financial details at a glance
- Net profit: SAR238.4 million (Q4)
- Revenue: SAR884.6 million (Q4)
- Revenue growth year-over-year: 17.1% from SAR755.5 million
- Net margin: 26.9% versus 22.7% a year earlier
- Beats: Net profit +59% vs Morgan Stanley, +32.3% vs consensus; Revenue +12.6% vs Morgan Stanley, +2.5% vs consensus
The results highlight the company’s recent operational momentum in patient volumes and bed utilization, both of which supported an above-forecast performance for the quarter.
What remains limited in the report
The material reviewed for this report focuses on the quarter’s headline financial metrics and the drivers named by the Morgan Stanley report. It does not provide further detail on segmental performance, regional breakdowns, or forward guidance beyond the quarterly comparisons and the cited drivers of patient visits and inpatient occupancy.