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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Milaha
Milaha (QNNS) investor relations material
Milaha Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary28 Oct, 2026
Executive summary
9M revenue and operating profit rose YoY, while net profit and EPS declined; segment performance varied sharply.
Q3 profit reached QR 415.6m versus QR 385.1m a year earlier; Maritime & Logistics delivered record profit despite regional disruption.
Financial highlights
9M operating revenue was QR 2,619.4m versus QR 2,458.0m; operating profit was QR 546.0m versus QR 515.7m.
9M net profit was QR 958.3m versus QR 1,055.7m; EPS was QR 0.84 versus QR 0.93.
9M profit before tax was QR 954.3m versus QR 1,106.7m; prior-year disposal gains were QR 87.4m versus QR 2.6m in 2026.
Cash from operating activities was QR 714.0m versus QR 927.0m; cash and cash equivalents rose to QR 446.5m from QR 272.1m at year-end 2025.
Total assets at 30 September were QR 20,919.3m and total equity QR 18,958.7m.
Outlook and guidance
Container shipping and freight logistics momentum may continue through Q4, but rates, shipping networks and project cargo flows remain dependent on conflict developments and supply-chain normalization.
Offshore Support, Harbor Operations and Industrial Logistics expect recovery after conflict ends and oil & gas production resumes; some vessels and projects remain below full capacity or delayed.
LNG carriers, the long-term contracted FSO and the Nakilat stake are expected to provide stable earnings; Gas & Petrochem is expected to see limited volatility.
Marine & Technical Services expects recovery when vessel calls normalize and the Strait of Hormuz reopens; Capital expects stable real estate results and continued portfolio yield enhancement.
Committed CapEx will continue into Q4; no detailed 2027 CapEx guidance was provided amid uncertainty.
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Latest events from Milaha
- Revenue up 6% but net profit down 19% as conflict raises costs and disrupts operations.QNNS
Q2 2026 - Revenue up 15% but net profit down 21% as conflict raises costs and disrupts operations.QNNSQ1 2026
- Offshore drove 2025's 17% revenue and 52% net income growth, offsetting shipping volatility.QNNSQ4 2025
- 15% profit growth driven by strong segment gains, asset disposals, and higher dividends.QNNSQ3 2025
- Double-digit revenue and profit growth in H1 2025, led by Maritime & Logistics and Offshore.QNNSQ2 2025
- Net profit up 5% to QR 917m, with strong Gas & Petrochem results and major asset gains.QNNSQ3 2024
- Net profit was QR 628.3 million on lower revenue, with mixed segment results and vessel investments.QNNSQ2 2024
- Q1 2025 net profit rose 3% to QR 374m, led by Maritime & Logistics and Offshore.QNNSQ1 2025
- Net profit up 9% to QR 1,122m, with higher EPS, strong segment results, and a 40% dividend proposed.QNNSQ4 2024
Next Milaha earnings date
Q4 20262 Feb, 2027
Milaha
Next Milaha earnings date
Q4 20262 Feb, 2027
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Frequently asked questions
Qatar Navigation Q.P.S.C., also known as Milaha, is a diversified maritime and logistics company based in Qatar. The company operates through several segments, including Maritime & Logistics, Gas & Petrochem, Offshore, Trading, and Capital. Its Maritime & Logistics segment provides container shipping, ship management, and port services. The Gas & Petrochem division focuses on transporting and handling gas and petrochemical products. The Offshore segment supports offshore oil and gas operations, while the Trading segment involves the distribution of heavy equipment and other related services. Additionally, the Capital segment manages the company’s investments in financial and real estate assets. The company is headquartered in Doha, Qatar, and its shares are listed on the Qatar Stock Exchange.