Saudi Aramco reports 9% rise in third-quarter adjusted net income to SR117 billion

Saudi Aramco reported adjusted net income of SR117 billion ($31.2 billion) for the third quarter of 2026, a 9% annual increase, Saudi Gazette reported on November 3. The Saudi energy company's comparable result a year earlier was SR107.2 billion ($28.6 billion).

Cash generation also improved. Aramco reported operating cash flow of SR145.2 billion ($38.7 billion), against SR135.4 billion ($36.1 billion) in the same quarter of 2025. Free cash flow increased to SR105.8 billion ($28.2 billion) from SR88.4 billion ($23.6 billion).

Those figures put free cash flow growth at about 20%, outpacing the increase in adjusted net income. Quarterly free cash flow also exceeded the SR82.1 billion ($21.9 billion) base dividend announced by the board, which was 3.5% higher than a year earlier.

The dividend is due in the fourth quarter, with Aramco's investor page listing November 25 as the payment date. The company also reported a gearing ratio of 5.5% at September 30, down from 6.2% at the end of June.

In its downstream business, Aramco said adjusted earnings, measured before interest, zakat and income taxes, increased 234% from a year earlier. It attributed that improvement to stronger refining margins.

Aramco said production had begun at the Zuluf crude oil increment project. It also reported that Jafurah Phase Two, the expansion of the Fadhili Gas Plant and the Dammam development were progressing on schedule.

President and chief executive Amin H. Nasser said the workforce, operational performance and supply network had helped Aramco keep deliveries reliable despite geopolitical uncertainty and attacks on energy facilities.

The company said the East-West Pipeline continued to give it flexibility in exporting oil. It was also examining options for more storage overseas and other export routes to strengthen its supply network.

Beyond its energy operations, Aramco announced that it had acquired a 49% holding in artificial intelligence company HUMAIN through asset transfers and cash contributions. It also signed a shareholders' agreement for a joint venture that would explore for minerals and undertake hard-rock mining.