Industries Qatar (IQCD) Q3 2026 earnings summary

Executive summary

• Nine-month revenue was QR 6.846bn versus QR 11.740bn; net loss was QR 862.254m versus net profit of QR 3.396bn.

• Q3 revenue was QR 1.739bn versus QR 4.440bn; net loss was QR 1.026bn versus net profit of QR 1.431bn.

• Regional conflict and shipping constraints reduced production and sales volumes, weighing on revenue and profitability.

• The auditor concluded the interim financial information was prepared, in all material respects, in accordance with IAS 34.

Financial highlights

• Nine-month gross profit fell to QR 259.110m from QR 2.896bn; Q3 recorded a gross loss of QR 323.926m versus gross profit of QR 1.319bn.

• Nine-month production declined 44% YoY to 7.56m MT and sales volumes fell 53% to 3.81m MT; blended selling prices rose 24% to $781/MT.

• Nine-month operating cash flow was QR 1.955bn versus QR 2.832bn; cash and cash equivalents at 30 September were QR 4.142bn.

• Basic and diluted EPS was a loss of QR 0.13 for 9M 2026 versus earnings of QR 0.56; Q3 EPS was a loss of QR 0.17 versus earnings of QR 0.23.

Segment performance

• Nine-month segment revenue was QR 2.116bn for petrochemicals, QR 2.672bn for fertilizers and QR 3.468bn for steel; consolidated revenue after eliminations was QR 6.846bn.

• Nine-month segment profit before tax was QR 510.757m for steel; petrochemicals recorded a QR 598.633m loss and fertilizers a QR 695.107m loss.

• Q3 versus Q2: petrochemical revenue fell to QR 475m and loss widened to QR 305m; fertilizer revenue rose to QR 1.06bn but loss widened to QR 643m; steel revenue rose to QR 1.31bn while profit fell to QR 80m.