Advanced Petrochemical posts lower 1Q earnings despite revenue surge

Advanced Petrochemical Company’s net income fell 58.3% y-o-y to SAR 30 mn in 1Q 2026, though it significantly outperformed Bloomberg analysts’ expectations of SAR 13.5 mn, it said in a Tadawul disclosure. While revenue surged 75.7% y-o-y to SAR 1.1 bn — driven by a 94% spike in sales volumes following the 3Q 2025 launch of Advanced Polyolefins Industry Company — the bottom line was pressured by the new facility's depreciation and financing costs, as well as a 10% dip in netback prices