Saudi Aramco reported a net income of SR122 billion for the first quarter of 2026, up from SR97.5 billion in the same period last year, according to its latest financial results released on Sunday.
The company said its adjusted net income reached SR126 billion, compared with SR99.8 billion in Q1 2025, reflecting stronger operational performance and improved market conditions.
Cash flow from operating activities stood at SR115.2 billion, slightly lower than SR118.9 billion a year earlier. Free cash flow also declined marginally to SR69.9 billion, impacted by a SR59.1 billion increase in working capital.
Aramco’s capital expenditure for the quarter totaled SR45.4 billion, supporting ongoing investment in upstream and downstream expansion projects. The company’s gearing ratio rose to 4.8 percent as of March 31, 2026, compared with 3.8 percent at the end of 2025.
The board approved base dividend distributions of SR82.1 billion for Q1 2026, marking a 3.5 percent year-on-year increase, with payments scheduled for the second quarter.
The company also reported a return on average capital employed of 20.7 percent, while the average realized crude oil price reached $76.9 per barrel during the quarter.
Aramco President and CEO Amin H. Nasser said the results reflect the company’s operational resilience and ability to adapt to global market volatility and geopolitical uncertainty.
He highlighted the East-West pipeline, which is now operating at full capacity of 7 million barrels per day, as a key strategic asset ensuring uninterrupted oil and product flows to global markets. The pipeline has also helped mitigate disruptions linked to shipping challenges in the Strait of Hormuz.
The company added that its domestic and international storage capacity, along with long-term infrastructure investments, has strengthened supply flexibility and business continuity.
Aramco said it remains focused on its long-term strategy to maintain energy security, expand operational efficiency, and meet global demand despite ongoing market uncertainties.
