Riyadh – Mubasher: Saudi Basic Industries Corporation (SABIC) posted 64.25% year-on-year (YoY) lower net profits for the second quarter (Q2) of 2026, with earnings falling to SAR 379 million from SAR 1.06 billion.

The company attributed the downturn to a decrease in quantities sold resulting from supply chain challenges and lower performance from an associate and joint venture.

Revenue for the three-month period ended on 30 June 2026 reached SAR 2.41 billion, representing a 26.65% decrease compared to SAR 3.28 billion in the prior-year quarter.

Operating profit also saw a significant reduction, falling by 58.85% to SAR 423 million. The company noted that while average selling prices for most products increased, this was not enough to offset the impact of lower sales volumes.

For the first six months (6M) of 2026, net profit reached SAR 1.60 billion, down 21.43% from SAR 2.04 billion in H1-25.

Half-year revenue totaled SAR 5.28 billion, an annual drop of 16.92% from SAR 6.36 billion. Earnings per share (EPS) stood at SAR 3.37, compared to SAR 4.29 a year earlier.

In Q1-26, SABIC turned profitable at SAR 13 million, a shift from net losses of SAR 1.21 billion in Q1-25.