SABIC Q2 2026 revenue $6.62bn; earnings fall

Financial results

SABIC reported Q2 2026 revenue of SAR 24.81 billion (US$ 6.62 billion), a 5% quarter‑on‑quarter decline. Adjusted EBITDA was SAR 3.38 billion (US$ 0.90 billion), down 18% Q‑o‑Q, while adjusted EBIT fell to SAR 0.41 billion (US$ 0.11 billion), a 72% Q‑o‑Q decrease. The company recorded an adjusted net loss of SAR (0.38) billion (US$ (0.10) billion) and adjusted EPS of SAR (0.13) (US$ (0.03)). Net debt stood at SAR 2.73 billion (US$ 0.73 billion) as of 30 June 2026, marginally lower than SAR 2.77 billion at 31 March 2026.

Operational and strategic progress

The Transformation Program delivered recurring EBITDA improvements of US$ 547 million in H1 2026 toward a cumulative US$ 3 billion annual target by 2030. Portfolio‑optimization moves are on track, including signed agreements to divest the European petrochemicals business and engineering thermoplastics businesses in the Americas and Europe, and agreed key terms to combine Sabtank and Chemtank stakes via a share exchange, subject to approvals. SABIC signed a Project Development Agreement with Rongsheng Petrochemical and an MoU with CEER (Saudi EV brand) to develop joint solutions. The SABIC Fujian Petrochemical Complex is on schedule for start‑up in Q4 2026, and commercial production began at a one‑million‑ton MTBE plant in the Kingdom.

Supply chain and commercial activity

Supply‑chain adjustments doubled polymers shipments from the Kingdom’s East to West and used the newly launched Red Sea Express container service to sustain customer deliveries. SABIC Agri‑Nutrients completed its first bagged and solid bulk urea shipment via the west coast. The company introduced 32 new product solutions during H1 2026.

Outlook

SABIC says it will prioritise disciplined capital allocation, operational excellence, execution of its Transformation and Portfolio‑Optimization programmes, and selective growth while maintaining liquidity and a dividend track record (SAR 3.3 billion for H1 2026).