Bupa, Luberef, Saudi Chemical, and more post 2Q earnings

Bupa capitalizes on expansion

Bupa Arabia reported a 7.2% y-o-y increase in net income to SAR 306.8 mn in 2Q 2026, according to a Tadawul disclosure. Revenue rose 12.4% y-o-y to SAR 5.3 bn during the period. The performance was attributed to business growth, which boosted the ins. service results and investment income.

1H told a similar story, with the firm’s net income climbing 4.1% y-o-y to SAR 694.1 mn and revenue rising 15.5% y-o-y to SAR 10.54 bn.

Luberef’s bottom line triples on stronger oil margins

Near threefold jump: Saudi Aramco Base Oil Company (Luberef) posted a 199.4% y-o-y rise in net income to SAR 734.1 mn in 2Q 2026, it said in a Tadawul disclosure. Revenue climbed 52% y-o-y to SAR 3.42 bn over the same period.

1H also remained strong: Net income for 1H 2026 more than doubled to SAR 992.1 mn, up 112.6% y-o-y, as revenue increased 27.4% to SAR 5.58 bn. The first-half performance was driven by higher base oil and by-product prices alongside stronger crack margins, with earnings per share rising to SAR 5.9 from SAR 2.77 a year earlier.

Dividends: The board approved a SAR 673.1 mn dividend for 1H 2026, equivalent to SAR 4 per share, Luberef said in a different disclosure. Shareholders registered by 1 October will be eligible for the payout, which is scheduled for 15 October.

Financial gains lift Saudi Chemical

Saudi Chemical Company posted a 16% y-o-y increase in net income to SAR 80.6 mn in 2Q 2026, according to a Tadawul disclosure. Revenue rose 4.3% y-o-y to SAR 1.84 bn, the company’s highest-ever quarterly figure, driven by higher sales volumes.

The boost came from below the operating line, not sales. Gross net income was essentially flat despite the higher revenue, so the earnings gain leaned on a lower expected-credit-loss charge on trade receivables, reduced finance costs from a cheaper debt load, and a favorable swing on interest-rate derivatives — partly offset by higher selling, zakat, and tax expenses, the company said. Volume growth in the healthcare and explosives segments buoyed the top line.

The half-year read: Net income climbed 10.6% y-o-y to SAR 167.8 mn in the first half of the year, while revenue rose by 4.7% y-o-y to SAR 3.57 bn, spurred by the same drivers.

Hotels fuel Jabal Omar turnaround

Jabal Omar Development swung to the black in 2Q 2026, logging SAR 158.1 mn in net income, compared to a SAR 42 mn loss a year earlier, it said in a Tadawul disclosure. Meanwhile, revenue rose 42.5% y-o-y to SAR 712.5 mn. Strong hotel performance during the Hajj season and the opening of the Rotana Hotel earlier this year lifted revenue.

BUT- 1H net income fell 69.6% y-o-y to SAR 275.1 mn, while revenue increased 16.4% to SAR 1.45 bn.

Flight woes clip Catrion’s 2Q

Catrion Catering Holding’s 2Q net income fell 27.3% y-o-y to SAR 47.6 mn in 2Q 2026, while its revenue rose 20.4% y-o-y to SAR 688.1 mn, according to a Tadawul disclosure. Revenue grew on the non-aviation side — the Red Sea Project and a full quarter of gains from its March acquisition of Al Khalejiah Catering — while regional disruption cut flights and meals on the aviation side, squeezing the bottom line.

For the first half, net income fell 8.7% y-o-y to SAR 128 mn and revenue was up 16.5% to SAR 1.4 bn.

Dividends: Catrion greenlit a SAR 82 mn dividend payout for 1H 2026, equivalent to SAR 1 per share. Distribution is scheduled for 13 September.

Alujain’s operations, investment income lift earnings

Alujain’s net income increased by more than sixfold to SAR 91.9 mn in 2Q 2026, according to a Tadawul disclosure. Revenue rose by 71.3% y-o-y to SAR 541.9 mn during the period on the back of a 68% increase in polypropylene sales and a rise in selling prices, according to its earnings (pdf).

What lifted the books? Stronger operating performance, higher contributions from equity-accounted investments, and increased finance income, alongside a larger contribution from discontinued operations. These gains were partly offset by higher finance costs and lower fair value gains on financial assets.

In the first half, the company turned to the black with SAR 104.1 mn in net income, compared to a SAR 4.8 mn loss in the same period last year. Revenue climbed by 58.3% y-o-y to SAR 872.2 mn.