Sulaiman Al Habib, Sabic Agri-Nutrients post 2Q earnings

Sulaiman Al Habib grows as new hospitals ramp up

Dr. Sulaiman Al Habib Medical Services Group reported a 12.1% y-o-y increase in its net income to SAR 662.7 mn in 2Q 2026, according to a Tadawul disclosure. Revenue rose 18.4% y-o-y to SAR 4 bn over the same period, carried by higher patient volumes and occupancy across the hospitals and pharmacies segments, alongside contributions from recently opened hospitals, the group said. Ramp-up costs at those new sites partly offset the gains.

REMEMBER- The company had approved a SAR 2 bn expansion plan in October 2025 to build two new hospitals. The projects include a SAR 991 mn, 160-bed integrated hospital in Riyadh and a SAR 988 mn, 145-bed integrated hospital in Dammam.

The half-year read told a similar story. Net income edged up 1.6% y-o-y to SAR 1.2 bn, while revenue climbed 13.8% to SAR 7.4 bn, with the gap largely reflecting the fixed costs of recently opened hospitals still working toward full utilization.

Dividends: The company decided to distribute SAR 465.5 mn in dividends for 2Q 2026, equivalent to SAR 1.33 per share, according to another disclosure. The amount will be distributed on 17 August.

Weaker volumes eat into Sabic Agri-Nutrients’ earnings

Sabic Agri-Nutrients saw its 2Q net income fall 64.2% y-o-y to SAR 379 mn, as weaker volumes outweighed firmer prices, according to a Tadawul disclosure. Revenue dropped 26.7% y-o-y to SAR 2.4 bn over the same period. The company tied the fall to lower sales volumes, driven by supply-chain problems and a smaller contribution from an associate and a joint venture, partly offset by higher average selling prices.

The market whipsawed through the quarter: Fertilizer prices peaked early in the second quarter of the year as importers competed to replace stranded Middle East supply. This was paired with disruption to upstream products including natural gas, ammonia, and sulfur weighing on global nitrogen and phosphate production, Sabic said in an earnings release (pdf). Conditions eased later in the quarter as China’s introduction of export quotas pulled urea prices back to pre-crisis levels, and the US-Iran ceasefire freed most of the vessels stranded in the Arabian Gulf to reach global markets. Phosphate prices stayed elevated on high raw-material costs.

For 1H, net income fell 21.4% y-o-y to SAR 1.6 bn with revenue down 16.9% y-o-y to SAR 5.3 bn.

Dividends: The company will distribute SAR 1.67 bn in dividends for 1H 2026, at SAR 3.5 per share, it said in a separate disclosure. The distribution date is set for Monday, 10 August.