Business · Companies · 11 hrs ago
Acwa’s third-quarter net profit rises 71% to $169 million
Saudi utility company Acwa reported higher third-quarter net profit.
Its profit reached $169 million, a rise of 71%.
The figures cover the company’s third quarter.
Net profit is the money left after a company’s costs are accounted for.
The increase shows Acwa earned more in that quarter than in the comparison period.
No reason for the increase or next steps are given.
Acwa Power’s third-quarter 2026 net profit rose 71.1% year on year to 635.1 million riyals, equivalent to about $169 million.
The company attributed the increase to stronger results from investee companies, improved gross profit and lower general and administrative expenses.
Revenue rose 32.7% to 2.2 billion riyals, while operating profit increased 88.2% to 1.11 billion riyals.
For the first nine months of 2026, net profit edged up 0.6% to 1.29 billion riyals.
- Who
- Acwa Power, a Saudi utility company.
- What
- Its third-quarter net profit rose 71.1% year on year to 635.1 million riyals, about $169 million.
- When
- The third quarter of 2026; results were reported on November 5, 2026.
- Where
- Saudi Arabia. The company announced the results on Tadawul.
- Why
- The company cited stronger results from investee companies, improved gross profit and lower general and administrative expenses.
This story does not have two clearly opposing sides.
Acwa Power’s net profit was lower than in the third quarter, which rose 105.9% quarter on quarter.
Net profit reached 635.1 million riyals, up 71.1% from the same quarter of 2025.
Net profit was 1.29 billion riyals, up 0.6% from the same period of 2025.
Acwa Power’s results were reported.
- Third-quarter net profit
- 635.1 million riyals, about $169 million
- Year-on-year net profit growth
- 71.1%
- Third-quarter revenue
- 2.2 billion riyals, up 32.7%
- Third-quarter operating profit
- 1.11 billion riyals, up 88.2%
- Nine-month net profit
- 1.29 billion riyals, up 0.6%