{"url":"https://newsforagent.com/news/2026-11-02/elm-cuts-2026-growth-forecast","markdown_url":"https://newsforagent.com/news/2026-11-02/elm-cuts-2026-growth-forecast.md","title":"Elm Cuts 2026 Revenue Growth Forecast to 14%-16%","headline":"Elm Lowers 2026 Revenue Growth Guidance to 14%-16% From 17%-19%","description":"Elm lowered its 2026 revenue growth forecast to 14%-16% from 17%-19%, citing continued pressure on operations, after nine-month revenue rose 16.99%.","section":"Earnings & Results","published_at":"2026-11-02T20:33:58+00:00","modified_at":"2026-11-02T20:33:58+00:00","author":"News Desk","key_takeaways":["Elm's management cut its 2026 revenue growth forecast to 14%-16% from 17%-19%.","Elm's nine-month revenue rose 16.99% and net profit increased 18.42%, including a SAR 59 million one-time gain.","Elm signed a five-year contract with SASO in September 2026 with expected revenue of about 15% of its total revenue."],"companies":[{"name":"Elm","is_primary":true,"profile_url":null,"website":"https://www.elm.sa/en/pages/default.aspx"}],"source":{"publisher":"Argaam","title":"Elm cuts 2026 growth forecast to 14%-16%","url":"https://www.argaam.com/en/article/articledetail/id/1949656"},"other_sources":[{"publisher":"Business News Today","url":"https://www.moneycontrol.com/news/business/stocks/acc-faces-persistent-cost-pressures-and-weak-volumes-nomura-maintains-reduce-cuts-target-price-to-rs-1-000-14064584.html"},{"publisher":"Reuters","url":"https://www.reuters.com/latam/negocio/DVFT67YGLRNONKPXUCUH3OCEX4-2026-10-26/"},{"publisher":"Nzz","url":"https://www.nzz.ch/wirtschaft/bauwirtschaft-iran-krieg-bremst-aufschwung-fuer-sika-holcim-schindler-ld.10042380"},{"publisher":"ScanX","url":"https://scanx.trade/stock-market-news/companies/shiva-cement-q2fy27-results-net-loss-narrows-30-yoy-2-285-lakh/54305687"}],"tags":["Earnings & Results","Elm"],"body_markdown":"Elm Co.'s management lowered its 2026 revenue growth forecast to 14%-16% from 17%-19%, citing continued pressure on its operations, [Argaam](https://www.argaam.com/en/article/articledetail/id/1949656) reported on November 2, 2026. Elm is a Saudi company whose business includes digital government platforms and technology services, and it holds contracts such as a five-year product safety platform project with SASO.\n\n## Elm's Lowered 2026 Growth Guidance\n\nThe revised range of 14%-16% replaces the earlier 17%-19% forecast. Elm's management tied the reduction to continued pressure on the company's operations. The guidance covers 2026 revenue growth, and the company published the change through its own [announcement](https://www.elm.sa/en/pages/default.aspx).\n\nThe cut follows a third quarter in which Elm reported revenue growth of 10.10% year-over-year, with net profit after Zakat rising 39.18%, according to [TradingView](https://akta.pro/news-signals). Nine-month revenue increased 16.99%, and net profit rose 18.42%, including a non-recurring SAR 59 million acquisition-related gain.\n\n## Contracts Signed Before the Guidance Cut\n\nElm signed a contract with SASO on September 22, 2026 to develop and operate a Product Safety Platform, with expected revenue of about 15% of its total revenue, Argaam reported. The five-year project is based on revenue sharing linked to transactions, and Elm's 2025 revenue was about SAR 9.46 billion.\n\nOn September 8, 2026, Elm subsidiary Thiqah Business Services signed a five-year contract with the Ministry of Commerce to digitize services, starting September 3, Argaam reported. The revenue-sharing agreement is expected to generate nearly 19% of Elm's total revenue over its term.\n\n## Cement Peers' Third-Quarter Results\n\nNomura maintained its 'Reduce' rating on ACC and cut its target price to Rs 1,000 on October 30, 2026, citing persistent cost pressures and weak volumes, [Business News Today](https://www.moneycontrol.com/news/business/stocks/acc-faces-persistent-cost-pressures-and-weak-volumes-nomura-maintains-reduce-cuts-target-price-to-rs-1-000-14064584.html) reported. Nomura lowered FY27-29 EBITDA estimates by 10-15%.\n\nCemex reported a 12% increase in third-quarter operating cash flow, with EBITDA rising to $990 million, [Reuters](https://www.reuters.com/latam/negocio/DVFT67YGLRNONKPXUCUH3OCEX4-2026-10-26/) reported on October 26, 2026. Holcim's CEO said acquisitions drove third-quarter revenue up 16% to 4.7 billion francs, [NZZ](https://www.nzz.ch/wirtschaft/bauwirtschaft-iran-krieg-bremst-aufschwung-fuer-sika-holcim-schindler-ld.10042380) reported on October 24, 2026.\n\n## What Comes Next for Elm\n\nElm's 2026 revenue growth is now guided at 14%-16%, the range management set on November 2, 2026. The company's third-quarter results, published before the guidance change, showed revenue growth of 10.10% year-over-year and net profit after Zakat up 39.18%.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}