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ADNOC Logistics & Services (ADNOCLS) investor relations material
ADNOC Logistics & Services Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue was $3.291B, EBITDA $1.088B and net profit $887M; 9M revenue reached $6.957B, EBITDA $2.563B and net profit $2.060B.
FY2026 net profit guidance was raised for the fourth time, to ~$4B, with Q4 net profit expected near $2B.
Historically high freight rates, fleet additions and contracted earnings supported results; $24B of contracted revenue includes $21B with ADNOC.
Financial highlights
Q3 revenue rose 149% YoY, EBITDA 187% and net profit 321%.
9M operating free cash flow was $3.089B; after $1.985B of CapEx, free cash flow was $1.104B.
Net debt was $131M at 9M 2026, down from $694M at FY2025; cash and equivalents were $1.214B.
Q3 earnings included a $105M cost from early termination of two VLCC charters; an LR2 termination incurred a further $25M cost in October.
Outlook and guidance
FY2026 consolidated guidance versus FY2025: revenue growth low 100%, EBITDA growth low 210% and net profit growth low 360%.
Segment guidance: Integrated Logistics revenue low-20% decline and EBITDA mid-20% decline; Shipping revenue mid-270% growth and EBITDA mid-540% growth; Services revenue mid-single-digit and EBITDA mid-80% growth.
Q4 was expected to be the strongest quarter of 2026; visibility through year-end used actual results through October and current trading assumptions for November and December.
Prior medium-term projections will not carry into 2027; parameters are under review, with an update planned after completion.
- FY23 profit rose 138% as Integrated Logistics led growth; FY24 revenue target is high teens.ADNOCLS
Q4 2023 - Record profit and upgraded guidance driven by shipping strength and fleet expansion.ADNOCLS
Q2 2026 - Record FY2025 revenue and EBITDA growth, with strong outlook and rising dividends.ADNOCLS
Q4 2025 - Record revenue and profit growth, higher dividends, and MSCI index inclusion drive outlook.ADNOCLS
Q3 2025 - Record H1 2025 revenue and EBITDA growth drive upgraded outlook and higher dividend.ADNOCLS
Q2 2025 - H1 2024 revenue up 42% and net profit up 31%, driven by global expansion and major investments.ADNOCLS
Q2 2024 - Revenue up 38% and net profit up 27% for 9M 2024, with major acquisition and dividend growth.ADNOCLS
Q3 2024 - Q1 2025 revenue up 41% to $1.18B, EBITDA up 20%, Navig8 acquisition boosts global reach.ADNOCLS
Q1 2025 - Revenue up 29%, EBITDA up 31%, and net profit up 22% with strong growth and expansion.ADNOCLS
Q4 2024
Next ADNOC Logistics & Services earnings date
Next ADNOC Logistics & Services earnings date
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