SABIC (2010) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 14% QoQ to $7.51bn and adjusted EBITDA increased 40% to $1.27bn as sales volumes rebounded 30%, despite lower prices and higher logistics costs.

• Transformation, portfolio optimization and selective growth remained priorities amid industry overcapacity and geopolitical uncertainty.

Financial highlights

• Q3 adjusted EBITDA was $1.27bn versus $0.90bn in Q2 and $1.36bn in Q3 2025; adjusted EBIT was $0.58bn versus $0.11bn in Q2.

• Adjusted net income was $225M; reported continuing-operations net income was $676M, while total net income was $130M after a $540M discontinued-operations loss.

• Q3 free cash flow was $1.50bn; YTD free cash flow was $1.05bn versus $1.03bn in YTD 2025.

• YTD continuing-operations free cash flow was $1.9bn pro forma, excluding discontinued operations.

Outlook and guidance

• FY2026 capital investment guidance was $3.0–3.3bn, with projects reprioritized, phased or rescoped and continued focus on spend optimization.

• Transformation targets $3bn recurring EBITDA uplift by 2030 versus 2024; $950M was realized YTD, split ~55% cost excellence and ~45% value creation.

• Fujian complex startup remained on track for Q4 2026 after plant trial runs; Q4 volume outlook remained uncertain amid logistics disruption.

• Jubail urea expansion targets annual output of 1.2M tonnes of ammonia and 2.6M tonnes of urea, with ~$3.5bn investment and commercial operations planned for Q4 2030.