Sabic swings back to profit in Q3 with $224m net income

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Saudi chemicals giant Sabic returned to profitability in the third quarter of 2026 after posting an adjusted net loss of $100m in the previous quarter ...

Saudi Basic Industries Corporation (Sabic) returned to profitability in the third quarter of the year, reporting adjusted net income of SR840m ($224m) as revenue and earnings improved from the previous quarter.

The Saudi chemicals giant had posted an adjusted net loss of $100m in the second quarter.

Revenue increased 14% on a quarter-on-quarter basis to $7.51bn, while adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) climbed 40% to $1.27bn. Adjusted Ebitda surged 434% to $578.67m.

Sabic’s net debt stood at $808m as of 30 September compared with $728m as of 30 June.

Adjusted earnings per share rose to SR0.28 ($0.07) from a loss of SR0.13 ($0.03).

The recovery occurred despite persistent margin pressure across the global petrochemicals sector and heightened geopolitical risk in the Middle East.

Additionally, Sabic said it achieved $949.33m of its broader portfolio optimisation programme target of $3bn by 2030 in positive recurring Ebitda impact from its transformation efforts.

During the third quarter, Sabic received its Local Content Certificate for 2025 from the Local Content and Government Procurement Authority, recording a score exceeding 61% – an increase of more than nine percentage points over the prior evaluation period. The company attributed the increase to domestic procurement agreements, including a memorandum of understanding with Lenovo.

After several years of subdued project spending, Sabic is beginning to step up investment in new production capacity, with major projects reaching key milestones this year.

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