What was SABIC's net profit in Q1 2026?

Net profit was SAR 13.2 million (SAR 0.01 billion), compared to a loss of SAR 1.21 billion in Q1 2025.

Why did SABIC swing to profit?

Due to a SAR 1.05 billion reduction in other operating expenses from the absence of restructuring costs, and SAR 384 million lower G&A and R&D costs.

What was SABIC's revenue in Q1 2026?

Revenue was SAR 26.15 billion, down 10.66% from Q1 2025.

What was SABIC's adjusted EBITDA margin in Q1 2026?

Adjusted EBITDA margin was 15.9%, compared to 11.9% in Q4 2025.

SABIC Posts SAR 13.2M Net Profit in Q1 2026, Reversing Year-Ago Loss

Saudi Basic Industries Corporation (SABIC) posted a net profit of SAR 13.2 million in Q1 2026, reversing a loss of SAR 1.21 billion in the same period last year. Revenue fell 10.66% YoY to SAR 26.15 billion due to lower sales volumes and selling prices.

Saudi Basic Industries Corporation (SABIC) announced its interim financial results for the three months ended March 31, 2026, reporting a net profit of SAR 13.2 million (SAR 0.01 billion), compared to a net loss of SAR 1.21 billion in Q1 2025. Revenue declined 10.66% year-on-year to SAR 26.15 billion, primarily due to decreased sales volume and lower average selling prices.

Key Financial Results

Metric	Q1 2026	Q1 2025	Change
Revenue	SAR 26.15B	SAR 29.27B	-10.66%
Net Profit (Loss)	SAR 0.01B	(SAR 1.21B)	Positive swing
EPS	Not disclosed	Not disclosed	-

Highlights from the Statement

Profitability improvement: The swing to profit was driven by a SAR 1.05 billion reduction in other operating expenses due to the absence of non-recurring restructuring costs, and SAR 384 million lower G&A and R&D costs from ongoing cost control initiatives.
Sequential comparison: QoQ revenue declined 6.44% from Q4 2025, while net income improved dramatically from a loss of SAR 20.94 billion in Q4 2025, mainly due to the absence of prior quarter's SAR 17.3 billion non-cash asset impairments and valuation adjustments.
Adjusted EBITDA: SAR 4.15 billion with a margin of 15.9%, compared to 11.9% in Q4 2025.
Shareholders' equity: Decreased 20.6% YoY to SAR 123.95 billion.

Guidance

No specific guidance was provided in the announcement.

Impact on the Stock

Investors may view the return to profitability positively, especially given ongoing cost-cutting efforts. However, the revenue decline and global petrochemical demand weakness remain concerns.

What This Means for Investors

The report shows SABIC has successfully improved its cost structure and avoided large losses, but challenges persist with lower sales and prices. Investors should monitor global demand trends and raw material prices.