SABIC records revenues of $6.62 billion in 2Q2026 demonstrating resilient operational performance

SABIC today announced its financial results for the second quarter of 2026, reporting a revenue of SAR 24.81 billion [US$ 6.62 billion].

SECOND QUARTER 2026 HIGHLIGHTS:

•    Revenue of SAR 24.81 billion [US$ 6.62 billion], a decrease of 5% Q-o-Q.
•    Adjusted EBITDA of SAR 3.38 billion [US$ 0.90 billion], a decrease of 18% Q-o-Q.
•    Adjusted EBIT of SAR 0.41 billion [US$ 0.11 billion], a decrease of 72% Q-o-Q.
•    Adjusted Net (Loss) Income of SAR (0.38) billion [US$ (0.10) billion].
•    Adjusted Earnings Per Share of SAR (0.13) [US$ (0.03)].
•    Net debt position of SAR 2.73 billion [US$ 0.73 billion] as of June 30, 2026, compared to a net debt position of SAR 2.77 billion [US$ 0.74 billion] as of March 31, 2026.

DR. FAISAL M. ALFAQEER, CEO AND EXECUTIVE BOARD MEMBER: 
  
“In the second quarter of 2026, SABIC delivered a resilient operating performance and continued to meet its strategic priorities, navigating a market shaped by geopolitical uncertainties, supply disruptions and elevated energy prices. Our focus remained on disciplined execution, operational excellence, portfolio optimization, corporate transformation, and selective growth to create sustainable long-term value.

As SABIC’s 50th Anniversary approaches, our commitment to operational excellence remains stronger than ever. We maintained our best-in-class Environment, Health, Safety and Security performance, achieving a Total Recordable Incident Rate of 0.08.

We also upheld leadership position in commercial innovation by introducing 32 new product solutions during the first half of this year. Additionally, we signed a Memorandum of Understanding (MoU) with the Kingdom of Saudi Arabia’s first electric vehicle (EV) brand (CEER) to strengthen collaboration, support our customers growth ambitions, and jointly develop innovative solutions that create long-term value, enhancing our contributions to localization. 

While the current market environment continues to be challenging, our strong balance sheet and disciplined approach to capital allocation enable us to remain resilient while continuing to create value for our shareholders. And with the announcement of SAR 3.3 billion (US$ 880 million) in dividends for the first half of 2026, we continue our long-standing dividend track record even as we preserve flexibility to support our strategic priorities for long-term value creation. At the same time, our corporate Transformation Program continues to deliver recurring EBITDA improvements, realizing US$ 547 million during the first half of 2026, maintaining our track toward our cumulative US$3 billion annual target by 2030.

Our Portfolio-Optimization Program is progressing well. Following the signing of the agreement to divest our European Petrochemicals business and our Engineering Thermoplastics business in the Americas and Europe earlier this year, both transactions are on track toward completion as planned. Additionally, in line with the program, we have reached agreement on the key terms for combining our Sabtank and Chemtank equity stakes through a share exchange, subject to customary regulatory approvals and other closing conditions. This transaction is expected to maximize operational efficiency, strengthen the terminals’ strategic positioning, and create a national petrochemicals logistics champion.

Despite the geopolitical circumstances during the concluded quarter, our resilient supply chain management successfully adapted to changing trade flows. The volume of polymers shuttled from the Kingdom’s East to the West more than doubled. Through close collaboration with our partners and the utilization of the newly launched Red Sea Express container service, we maintained reliable service for our customers. Additionally, SABIC Agri-Nutrients completed its first shipment of bagged and solid bulk urea via the west coast, further strengthening its global supply network and supporting food security. 

Our strategic growth projects also continue to make solid progress. The SABIC Fujian Petrochemical Complex remains on track, with the start-up expected during the fourth quarter of 2026. We also achieved successful commercial production at our one-million-ton MTBE plant in the Kingdom, demonstrating the strength of SABIC’s proprietary technology and further reinforcing our manufacturing footprint. We advanced our selective growth journey by signing a Project Development Agreement with Rongsheng Petrochemical. which focus on advanced chemical materials to support growing demand in Asia, supporting our long-term growth strategy in one of the world’s largest chemicals markets.

Looking ahead, we aim to remain focused on disciplined capital allocation, operational excellence, and executing our Transformation and Portfolio-Optimization programs. These priorities, together with our continued investment in selective growth opportunities, position SABIC to enhance its shareholder returns and deliver sustainable long-term value.”