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Research houses see higher Q2 2026 earnings for Saudi petchem sector
15/07/2026
Argaam Exclusive
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Research firms expect Saudi petrochemical companies to report higher net income in Q2 2026.
However, net profit, excluding one-off items, is projected to decline by almost 66% to SAR 371 million in Q2 2026, from SAR 1.09 billion in Q2 2025, according to data compiled by Argaam.
Excluding exceptional items, research firms' annual forecasts were negative for most players in Q2 2026, led by Sipchem and Tasnee. In contrast, SIIG, Alujain and Yansab were expected to post the strongest earnings growth. SIIG was forecast to post the biggest profit surge of 710.1% year-on-year.
Adjusting for exceptional items, forecasts remained mixed.
Compared with Q1 2026, forecasts were negative on an underlying basis for five companies, led by Advanced and SIIG. Meanwhile, SABIC and Yansab were seen to deliver the strongest quarter-on-quarter earnings growth.
Analyst Estimates
| Company | No. of Analysts | 2025 - Q2 (net income) | 2026 - Q2 (e) | Difference |
| SABIC | 6 | (4066.11) | 482.52 | 111.9 % |
| SABIC AGRI-NUTRIENTS | 6 | 1,059.74 | 1,060.87 | 0.1 % |
| YANSAB | 6 | 44.55 | 190.17 | 326.8 % |
| SIPCHEM | 6 | (169.18) | (258.15) | (52.6 %) |
| ADVANCED | 6 | 81.61 | (61.04) | (174.8 %) |
| TASNEE | 4 | (65.82) | (196.38) | (198.3 %) |
| SAUDI KAYAN | 4 | (496.35) | (701.25) | (41.3 %) |
| ALUJAIN | 3 | 12.43 | 56.27 | 352.9 % |
| SIIG | 3 | 19.63 | 197.63 | 906.9 % |
| Total | 6 | (3579.51) | 770.63 | - |
Riyad Capital, AlJazira Capital, and SNB Capital provided the broadest sector coverage, with eight companies each.
Advanced has already reported its Q2 2026 results, incurring a net loss of SAR 98 million, compared with an average estimate of SAR 61 million.
Estimates per Analyst
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Market Index
| TASI | 11,007.27 | (8.45) | (0.08 %) |
Stock Prices
| ALUJAIN | 28.82 | (0.24) | (0.83%) |
| TASNEE | 9.12 | 0.02 | 0.22% |
| NAMA CHEMICALS | 18.72 | (0.25) | (1.32%) |
| SABIC | 49.70 | 0.32 | 0.65% |
| SABIC AGRI-NUTRIENTS | 126.50 | 1.10 | 0.87% |
| Sahara Petrochemicals | 17.46 | 0.20 | 1.16% |
| SIIG | 12.31 | (0.18) | (1.44%) |
| YANSAB | 34.28 | (0.04) | (0.12%) |
| SIPCHEM | 13.12 | (0.02) | (0.15%) |
| SAUDI KAYAN | 5.38 | (0.07) | (1.28%) |
| CHEMANOL | 29.00 | (0.02) | (0.07%) |
| PETRO RABIGH | 18.21 | 0.29 | 1.60% |
| Petrochem | 45.60 | (0.60) | (1.30%) |
| ADVANCED | 23.38 | (0.36) | (1.51%) |
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