Aramco Q3 2026 net income rises to USD 36,252 million, adjusted up 9%

Saudi Aramco's third-quarter net income rose to USD 36,252 million from USD 26,937 million, and its board declared a USD 21.9 billion base dividend.

4 Nov 2026, 00:15

Saudi Aramco reported third-quarter 2026 net income of USD 36,252 million (SAR 135,944 million), compared with USD 26,937 million a year earlier, while adjusted net income rose 9% to USD 31.2 billion. The board declared a USD 21.9 billion base dividend, up 3.5%, with the SAR 0.3393 per share ordinary dividend payable on 25 November.

• Q3 2026 net income was USD 36,252 million (SAR 135,944 million), against USD 26,937 million in Q3 2025.
• Adjusted net income, a non-IFRS measure, rose 9% year on year to USD 31.2 billion from USD 28.6 billion.
• Free cash flow was USD 28.2 billion and the gearing ratio was 5.5% at 30 September.
• The board declared a USD 21.9 billion base dividend, up 3.5% year on year; the ordinary dividend is SAR 0.3393 per share.
• Dividend eligibility date is 16 November 2026 and the pay date is 25 November 2026.
• Aramco said production started at the Zuluf crude oil increment and it acquired a 49% stake in HUMAIN.

What happened

Saudi Aramco (Tadawul: 2222) reported net income of USD 36,252 million (SAR 135,944 million) for the third quarter of 2026, compared with USD 26,937 million (SAR 101,015 million) in the third quarter of 2025, according to its results release published on 3 November.

Adjusted net income, which Aramco reports as a non-IFRS measure, rose 9% year on year to USD 31.2 billion from USD 28.6 billion, the company said. Aramco noted that its 2025 comparative amounts were amended to reflect revisions to adjusting items.

For the first nine months of 2026, net income was USD 101,481 million, against USD 75,621 million in the same period of 2025.

Cash flow from operating activities was USD 38.7 billion in the quarter, compared with USD 36.1 billion a year earlier, and free cash flow was USD 28.2 billion, against USD 23.6 billion. The gearing ratio was 5.5% at 30 September, compared with 6.2% at 30 June. Aramco's average realized crude oil price was USD 95.2 per barrel in the third quarter, against USD 108.1 in the second quarter and USD 70.1 in the third quarter of 2025.

Aramco said Downstream adjusted EBIT rose 234.0% year on year "due to stronger refining margins."

The company also reported the acquisition of a 49% stake in HUMAIN, involving a transfer of assets and approximately USD 2.6 billion in cash contributions, and said a shareholders' agreement had been signed to form a mineral exploration and hard-rock mining joint venture.

Why it matters

The board declared a third-quarter base dividend of USD 21.9 billion (SAR 82.1 billion in its Arabic-language release), up 3.5% year on year, to be paid in the fourth quarter. Aramco's dividends schedule lists the Q3 2026 ordinary dividend at SAR 0.3393 per share.

President and CEO Amin H. Nasser said geopolitical uncertainty and attacks on key energy facilities "continued to amplify the global energy supply crisis in the third quarter of 2026," adding that the company's "robust operational and financial performance during this volatile period demonstrates the value of our resilience."

Aramco said the East-West Pipeline continued to provide export flexibility, and that additional overseas storage and new export routes are being explored.

What to watch next

The eligibility date for the Q3 2026 dividend is 16 November 2026 and the pay date is 25 November 2026, according to Aramco's dividends schedule.

Aramco said production has started at the Zuluf crude oil increment, and that other major Upstream projects, including Jafurah phase two, the Fadhili Gas Plant expansion and the Dammam development project, are on track.