SABIC Agri-Nutrients profit falls 62.5% to SAR 484 million
Q3 2026 net profit dropped to SAR 484 million from SAR 1,290 million a year earlier.
· Last verified: 20 Oct 2026 (Saudi Exchange (Tadawul) filing, Argaam, Maaal)
Summary
- Q3 2026 net profit dropped to SAR 484 million from SAR 1,290 million a year earlier.
- Revenue slipped 8.6% to SAR 3,220 million, with operating income down two-thirds.
- Nine-month profit fell 37.3%, weakening the fertilizer arm's contribution to SABIC's consolidated results.
The latest
Net profit at SABIC Agri-Nutrients fell 62.5% to SAR 484 million, or roughly $129 million, in the third quarter of 2026, down from SAR 1,290 million a year earlier. The company reported the figures in condensed interim consolidated financial results for the period ended 30 September 2026, filed with the Saudi Exchange on the evening of Monday, 19 October 2026.
Details
- The headline number: Third-quarter net profit came in at SAR 484 million against SAR 1,290 million in the same quarter of 2025, a decline of 62.5%. At the official exchange rate of 3.75 riyals to the dollar, the quarterly figure converts to about $129 million, down from roughly $344 million a year earlier.
- Revenue: Sales for the quarter fell to SAR 3,220 million from SAR 3,522 million, a drop of 8.6%. The revenue decline was far shallower than the fall in profit, meaning the hit landed mainly below the top line rather than on volumes or prices alone.
- Margins: Gross profit dropped 44.4% to SAR 803 million, and operating income fell 66.7% to SAR 408 million from SAR 1,224 million in the year-earlier quarter. Operating income shrank to about 12.7% of revenue, against roughly 35% in the third quarter of 2025.
- Per share: Earnings per share for the quarter were SAR 1.02, compared with SAR 2.71 a year earlier. The company did not announce a dividend decision alongside the interim results filing.
- Sequential picture: Measured against the second quarter of 2026, the results improved. Net profit rose 27.7% from SAR 379 million, and revenue climbed 33.6% from SAR 2,411 million, making the third quarter the stronger of the two on both lines despite the annual decline.
- Nine-month totals: For the first nine months of 2026, net profit fell 37.3% to SAR 2,089 million from SAR 3,334 million. Revenue over the same period declined 13.9% to SAR 8,505 million from SAR 9,883 million, and earnings per share were SAR 4.39 versus SAR 7.00.
- What was filed: The numbers come from condensed interim consolidated financial statements for the period ended 30 September 2026, submitted to the Saudi Exchange. The filing is an interim disclosure rather than audited annual accounts, and the company did not publish a quarterly revenue forecast alongside it.
- Group exposure: SABIC Agri-Nutrients is the fertilizer arm of petrochemical group SABIC, and its quarterly earnings feed into the parent's consolidated results. A 37.3% drop in nine-month profit reduces the contribution the unit makes to the group's bottom line for the year to date.
Background
SABIC Agri-Nutrients is listed on the Saudi Exchange and reports quarterly. Saudi petrochemical and fertilizer producers sell largely into export markets, leaving their earnings exposed to international product prices and to shipping costs on outbound cargoes.
Between the lines
The gap between an 8.6% revenue decline and a 66.7% drop in operating income points to cost and pricing pressure rather than a collapse in sales volumes: the company moved nearly as much value through the top line while keeping far less of it. The sequential improvement over the second quarter suggests the squeeze may have found a floor, though a single quarter of recovery does not establish a trend.
What's next
Watch the fourth-quarter and full-year 2026 results for whether the sequential recovery holds, any board decision on dividends, and SABIC's own consolidated filings showing how much the fertilizer unit's decline weighs on group earnings.