Yanbu National Petrochemical (2290) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was SAR 1,320 million, down 13% year-over-year due to a 25-day planned shutdown of the Ethylene Glycol plant for preventive maintenance, impacting both revenue and cost of revenue.

• Net income for the period was SAR 11.2 million, a 17.8% decrease compared to SAR 13.7 million in Q1 2025.

• Total comprehensive income turned negative at SAR (13.0) million, mainly due to a re-measurement loss on defined benefit plans.

Financial highlights

• Gross profit for Q1 2026 was SAR 153.3 million, nearly flat year-over-year.

• Operating income was SAR 12.2 million, up from SAR 8.0 million in Q1 2025.

• Basic and diluted EPS remained at SAR 0.02.

• Cash and cash equivalents increased to SAR 220.3 million from SAR 174.6 million at year-end 2025.

• Dividends of SAR 562.5 million were paid in Q1 2026.

Outlook and guidance

• The company expects continued operational reliability and introduction of new product grades following the maintenance shutdown.

• Ongoing geopolitical instability in the Middle East may impact future financial performance, especially if the Strait of Hormuz closure persists or feedstock supply remains unstable.