Petro Rabigh returns to the black in 2Q

Earnings season is in full swing with Petro Rabigh, Saudi Tadawul Holding, and Sadafco reporting their quarterly results.

Petro Rabigh returns to the black

Petro Rabigh recorded a net income of SAR 2.7 bn in 2Q, compared to a loss of SAR 1.4 bn in the same period last year, according to a Tadawul filing. Revenue jumped 416% y-o-y to SAR 20.4 bn in the quarter on the back of higher sales volumes and improved selling prices, as well as favorable market conditions. The company also reported lower financial costs during the quarter following the early repayment of long-term loans and a dip in benchmark interest rates.

IN CONTEXT- The company explained that “the revenue during the same quarter of last year was significantly lower due to a comprehensive, scheduled periodic maintenance across all operational facilities and production units at the company’s complex, which lasted approximately 60 days and resulted in lower production and sales volumes.”

The first half tells a similar story: The company recorded a SAR 4.1 bn net income during the first six months of the year, reversing the SAR 2.1 bn net loss seen a year earlier.

What’s next: The company will begin commissioning several projects this quarter aimed at increasing production capacity and improving product quality, CFO Fahad Almuhaisin said.

Saudi Tadawul sees 2Q net income fall

Saudi Tadawul Group’s net income dipped 4.3% y-o-y in 2Q 2026 to SAR 92.1 mn, it said in a Tadawul disclosure. Revenue was almost flat compared to the same quarter last year, coming in at SAR 322.6 mn.

The 1H picture: The group’s bottom line fell 31.9% y-o-y to SAR 147.7 mn in 1H 2026, while its revenue slid 4.6% to SAR 617.1 mn, as a 9.1% drop in the average daily traded value weighed on trading-related income.

The segment breakdown: Capital markets revenue fell 13.8% y-o-y to SAR 170.2 mn during the six-month period, reflecting lower trading activity. Revenue from the data and technology services segment rose 11.8% to SAR 133.3 mn, driven by revenues from co-location services and Direct Financial Network Company.

Costs bite Sadafco

Saudia Dairy and Foodstuff Co. (Sadafco) reported a 25% y-o-y decline in net income to SAR 88.2 mn in 2Q 2026, while revenue decreased 2.6% to SAR 750 mn, according to a Tadawul disclosure. The company’s Polish subsidiary Mlekoma dragged the company’s top-line down — its sales nearly halved to SAR 62 mn as lower prices and volumes outweighed 6.9% y-o-y growth in Sadafco’s core business. Higher raw material costs, shipping surcharges tied to regional maritime disruptions, inflation, and higher fuel prices added to the strain.

The half-year read tells the same story, with the net income sliding 30.2% y-o-y to SAR 170.3 mn and revenue down 2.6% to SAR 1.5 bn.