Saudi Basic Industries Corp. (SABIC) is expected to report a net loss of SAR 308 million ($81.92 million) in the second quarter of 2026, Riyad Capital said in its Q2 2026 earnings preview.

The petrochemicals major which is majority-owned by Saudi Aramco, reported a net loss of more than SAR 4 billion in the second quarter of 2025, compared with a net profit of over SAR 2 billion in the second quarter of 2024.

Revenue is anticipated to fall by 41% year-on-year to SAR21 billion in the April-June period, the brokerage added. The Persian Gulf conflict has disrupted shipping through the strait of Hormuz, hitting export volumes of petrochemical companies. 

SABIC returned to profit in the first quarter of 2026, posting net earnings of SAR13.2 million compared with a SAR1.21 billion loss a year earlier. 

(Editing by Brinda Darasha; brinda.darasha@lseg.com)