ADNOC Gas Raises 2026 Net Income Guidance to at Least $4 Billion
Key Facts
ADNOC Gas raised its 2026 net income guidance to at least $4 billion, alongside reporting net income of $1.34 billion in the third quarter, according to a company statement issued on November 10, 2026. Quarterly income was roughly double the previous quarter’s level, rising 101% from $665 million in the second quarter. The company said its full-year outlook remains subject to developments in regional shipping. The new guidance puts annual performance at the forefront of investor focus ahead of the official third-quarter results, scheduled for November 12. It also reflects the company’s expectation that improved performance will continue to have an impact, while marine operating conditions remain a factor.
ADNOC Gas’s net income was $665 million in the second quarter of 2026, then rose to $1.34 billion in the third quarter, an increase of 101% quarter on quarter, the company said. The company announced on November 10 that its quarterly income had doubled from the previous quarter. This comparison provides a direct frame of reference for understanding the increase in annual guidance, which followed a sharp improvement in income between the two periods. The announcement comes as shipping through the Strait of Hormuz remains disrupted. The company therefore linked its outlook to developments in regional maritime conditions and did not present the guidance as separate from the operating environment.
The company said market conditions improved during the third quarter, but continued disruption to shipping through the Strait of Hormuz continued to create a challenging operating environment. This highlights the contrast between improving market conditions and the challenges that remained for the company’s operations during the period. Commenting on performance, Chief Executive Fatima Al Nuaimi said, "Strong execution across the company’s businesses was the main driver of renewed momentum and improved results." Al Nuaimi linked the improved results to business performance, while the company statement cited continued maritime disruption as an operational challenge. The impact of those conditions remains among the factors the company said it will monitor when assessing the rest of the year.
ADNOC Gas reported net profit of $1.173 billion in the first half of 2026, up 179% year on year, according to results published in August. This included second-quarter net profit of $951 million, up 303% year on year. In the shipping sector, revenue rose 132% to $2.438 billion in the first half, while net profit increased 693% to $997 million. The company attributed the sector’s performance at the time to a global rise in charter rates, increased chartering activity and the addition of new vessels. Its 2026 net profit guidance also assumed growth of more than 110%, compared with previous guidance for growth of more than 60%, with annual results depending heavily on regional developments.
These figures come in a different context from ADNOC Gas’s results: the first-half data relate to the shipping business of ADNOC Logistics & Services, while the third-quarter results and new guidance relate to ADNOC Gas. ADNOC Gas said it is targeting a return to full operational capacity by the second quarter of 2027. This date provides a timeline for production capacity developments after the period covered by the results announcement. The next near-term milestone for investors is the company’s official third-quarter results announcement on November 12, 2026. Full-year results are scheduled to be announced on February 11, 2027.