SABIC announced its financial results for the first quarter of 2026 on Apr. 29, reporting an adjusted EBITDA of SAR 4.15 billion (US$1.11 billion), which is a 25% increase compared to the fourth quarter of 2025.
The announcement highlights several key financial metrics for the period. Revenue reached SAR 26.15 billion (US$6.97 billion), marking a decrease of six percent from the previous quarter. Adjusted EBIT was SAR 1.45 billion (US$0.39 billion), representing a quarterly increase of SAR 1.01 billion (US$0.27 billion). Adjusted net income stood at SAR 816 million (US$218 million), up by SAR 2.21 billion (US$0.59 billion) over the prior quarter, while adjusted earnings per share were reported at SAR 0.27 (US$0.07). The company recorded a net debt position of SAR 2.77 billion (US$0.74 billion) as of March 31, 2026, compared to a net cash position at year-end.
Dr. Faisal Alfaqeer, CEO and Executive Board Member, said: “In Q1 2026, we continued to make meaningful progress according to our strategic agenda of portfolio optimization, corporate transformation, and selective growth. At the core of this progress is our unwavering commitment to operational excellence, with Environment, Health, Safety, and Security (EHSS) remaining top priorities.”
Alfaqeer also commented on safety performance: “As part of our strong EHSS performance in the first quarter, we achieved a Total Recordable Incident Rate of 0.08, maintaining our best-in-class performance.” He further discussed ongoing business actions: “We are following through on the two agreements announced at the start of the quarter to divest our European Petrochemicals business and our Engineering Thermoplastics business in the Americas and Europe… These decisive actions are aligned with our strategy to enhance capital allocation, strengthen SABIC’s financial resilience, and position the company for growth in profitable markets.”
On transformation efforts he added: “At the same time, our transformation journey continues to deliver performance improvements that unlock greater value for our shareholders… We realized $220 million US dollars at EBITDA level on a recurring basis during Q1 2026… This keeps us on track toward our cumulative annual target by 2030.” Alfaqeer also noted advances in capital projects such as reaching approximately ninety-eight percent completion for SABIC’s Fujian project and securing feedstock-allocation approval from Saudi Arabia’s Ministry of Energy enabling potential expansion in urea production capacity.
Discussing future outlooks and partnerships he said: “Finally we signed a strategic agreement with Public Investment Fund–Pirelli joint venture enabling manufacturing three point five million tires annually in Kingdom… This agreement supports localization agenda… while contributing to long-term economic growth and industrial development in Saudi Arabia.”
