SABIC’s profits jump 16% in Q3-26 as sales volumes recover

SABIC
2010 -0.55% 43.48 -0.24

Riyadh — Mubasher: Saudi Basic Industries Corporation (SABIC) logged net profits of SAR 500 million for the third quarter (Q3) of 2026, an annual rise of 16.28% from SAR 430 million.

The petrochemical giant returned to profitability on a quarterly basis after recording a net loss of SAR 830 million in Q2-26.

Quarterly revenue reached SAR 28.17 billion, a 3.13% decline year-on-year (YoY) but a 13.54% increase from the previous quarter. The company attributed sequential revenue growth to a 30% surge in sales volumes, which helped offset a decline in average selling prices. Gross profit for the quarter rose 9.73% YoY to SAR 6.43 billion.

In the first nine months (9M) of 2026, SABIC narrowed its net loss to SAR 320 million, compared to a loss of SAR 4.84 billion in the corresponding period of 2025.

The company noted that results were bolstered by a SAR 2.43 billion improvement in income from associates and joint ventures, primarily due to the reversal of impairment provisions on European equity investments. Total equity stood at SAR 122.76 billion as of 30 September 2026.

Source: Mubasher Source: {{details.article.source}}