Business · Companies · 2 hrs ago
SABIC returns to profit in third quarter as revenue rises 14%
Saudi chemicals company SABIC returned to profit in the third quarter of 2026, earning 499 million riyals after a loss of 833 million riyals in the second quarter.
The company reported revenue of 28.17 billion riyals, up 14% from the previous quarter but down 3.1% from a year earlier.
SABIC makes petrochemicals, agricultural nutrients and specialty products, and its results can be affected by market conditions and supply-chain pressures.
Adjusted EBITDA rose 40% to 4.75 billion riyals, while the adjusted net result also turned positive.
Higher sales volumes and improved results from joint ventures and associated companies helped, although continuing supply-chain challenges increased selling and distribution costs.
SABIC sold its engineering thermoplastics business in the Americas and Europe, and currency-related accounting effects from the sale weighed on the quarter's results.
For the first nine months of 2026, the company still recorded a net loss, but it was much smaller than in the same period last year.
Saudi Basic Industries Corp. (SABIC) returned to profit in the third quarter of 2026, reporting net income of $133 million.
The company had recorded a net loss of $222 million in the second quarter.
SABIC said higher selling prices and improved results from associates and joint ventures helped drive the recovery.
Third-quarter revenue rose 13.5% from the previous quarter to $7.51 billion but was down 3.1% from a year earlier.
The company reported a net loss of about $85 million for the first nine months of 2026, compared with a $1.29 billion loss a year earlier.
- Who
- Saudi Basic Industries Corp. (SABIC), a Saudi chemicals company.
- What
- It returned to profit in the third quarter, reporting net income of $133 million.
- When
- The third quarter of 2026. The results were reported on October 25, 2026.
- Where
- Not stated
- Why
- SABIC attributed the recovery mainly to higher selling prices and improved results from associates and joint ventures.
This story does not have two clearly opposing sides.
SABIC recorded a net loss of 833 million riyals as revenue and sales volumes declined.
SABIC returned to profit, reporting net income of 499 million riyals.
The company completed the sale of its engineering thermoplastics business in the Americas and Europe for $450 million.
Reports on SABIC's third-quarter results were published.
- Third-quarter net income
- $133 million (499 million riyals)
- Third-quarter revenue
- $7.51 billion (28.17 billion riyals)
- Year-on-year revenue change
- Down 3.1%
- Second-quarter net loss
- $222 million (833 million riyals)
- Nine-month net loss
- About $85 million (320 million riyals)
- Sale proceeds
- $450 million for the engineering thermoplastics business in the Americas and Europe
6 sources
Sabic returns to profit in third quarter as revenue rises despite regional conflict
"سابك" تسجل ارتفاعا 40% في الأرباح المعدلة جراء التميز التشغيلي
«سليمان الحبيب» ترفع أرباحها 5.6 % إلى 493 مليون دولار في 9 أشهر
What people are saying
The company succeeded in the third quarter in achieving exceptional resilience in its performance, despite the geopolitical developments in the region and market challenges, and this was accompanied by a clear and strong future vision, with continued focus on the strategic goals of improving the business portfolio, transformation and selective growth, in pursuit of supporting long-term profitability and enhancing shareholder value.
The completion of the sale of the engineering thermoplastics business in the Americas and Europe for $450 million is one of the company's achievements during the quarter, as part of the business portfolio improvement program.