ADNOC L&S Q2 profit jumps 303% to record $951 million, raises 2026 guidance again
Dubai: ADNOC Logistics and Services reported a record second-quarter net profit of $951 million, or Dh3.49 billion, after earnings more than quadrupled from a year earlier, prompting the company to raise its full-year 2026 guidance for the third time. Revenue for the three months ended June rose 98% year-on-year to $2.58 billion, or…
Dubai-based ADNOC Logistics and Services (L&S) reported a record second-quarter net profit of $951 million, or Dh3.49 billion, marking a 303% increase from a year earlier. The company has raised its full-year 2026 guidance for the third time, projecting a 20% growth in revenue and 60% growth in EBITDA. Revenue for the quarter, ending June, rose 98% year-on-year to $2.58 billion, while EBITDA increased 176% to $1.11 billion.
ADNOC L&S also approved an interim cash dividend of $85.3 million for the second quarter. The shipping segment drove earnings growth, with shipping revenue increasing 132% year-on-year and EBITDA up 292%. The strong performance was attributed to higher charter rates, additional chartering activity, and contributions from newly added vessels.
The company expects continued support from strong shipping markets, leading to a mid-80% growth in full-year revenue and a low-190% growth in shipping EBITDA compared to the previous forecasts.
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