SABIC Agri-Nutrients (2020) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 34% QoQ to SAR 3,220M as sales volume was maximized through the West Coast, but remained 9% below Q3 2025 amid supply-chain disruption.

• Net income increased 28% QoQ to SAR 484M; EBITDA was nearly flat QoQ at SAR 616M, while both were sharply lower YoY.

Financial highlights

• Revenue was SAR 3,220M, up 34% QoQ and down 9% YoY; 9M revenue fell 14% YoY to SAR 8,505M.

• Q3 EBITDA was SAR 616M, down 0.3% QoQ and 57% YoY; 9M EBITDA declined 31% YoY to SAR 2,612M.

• Operating profit was SAR 408M, down 4% QoQ and 67% YoY; 9M operating profit fell 36% YoY to SAR 1,999M.

• Q3 net income attributable to equity holders was SAR 484M, up 28% QoQ and down 62% YoY; 9M net income fell 37% YoY to SAR 2,089M.

• Q3 EPS was SAR 1.02, up 28% QoQ and down 62% YoY; 9M EPS was SAR 4.39, down 37% YoY.

Outlook and guidance

• Q4 urea prices are expected to remain broadly stable, supported by pre-spring restocking and stronger European imports.

• Supply is forecast to tighten as China pauses exports for seasonal domestic demand; a sudden Strait of Hormuz reopening could release volumes and affect market direction.

• Alternative Red Sea routes are expected to support continued customer supply and meeting market demand.