Aramco reported a 9% rise in third-quarter adjusted net income, to $31.2 billion, on stronger refining margins. The result beat analyst expectations, and the board declared a base dividend up 3.5% from a year earlier.
Saudi Aramco reported a 9% rise in third-quarter adjusted net income on Tuesday, crediting stronger refining margins. The oil giant posted adjusted net income of $31.2 billion, up from $28.6 billion a year earlier.
Downstream earnings jump 234%
The figure exceeded the median analyst consensus estimate of $30.66 billion, according to the company. Aramco's downstream business, which processes crude oil into fuels and other products, posted adjusted earnings before interest and taxes of $10.3 billion, up 234% from a year earlier.
Aramco also generated $28.2 billion in free cash flow during the quarter, compared with $23.6 billion a year earlier. Its board then declared a third-quarter base dividend of $21.9 billion, up 3.5% year on year, payable in the fourth quarter.
Management points to supply disruptions
Aramco CEO Amin H. Nasser commented on the supply backdrop. According to CNBC, he said in a statement that "attacks on key energy facilities continued to amplify the global energy supply crisis" in the third quarter of 2026.
Nasser said the company's operational flexibility and supply network let it keep delivering energy to customers despite the disruptions. Aramco is also exploring additional overseas storage capacity and alternative export routes to strengthen that network.
The company said its major upstream projects remained on track. It also highlighted its acquisition of a 49% stake in Saudi artificial intelligence company HUMAIN.
Source: CNBC
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