ADNOC L&S lifts 2026 profit outlook after strong shipping performance

29/06/2026 06:09 AST

ADNOC Logistics & Services has upgraded its full-year 2026 financial guidance after stronger second-quarter performance, with the company now expecting a much stronger rise in earnings than previously forecast.

The Abu Dhabi-listed company said on Monday that it now expects net profit to grow by the high 60% range in 2026, compared with its earlier forecast of mid-to-high-teens growth. EBITDA is now expected to grow by the high 20% range, compared with the earlier guidance of mid-to-high single-digit growth.

Revenue is now expected to record low single-digit growth for the year. The previous forecast had pointed to a low-to-mid single-digit reduction.

Shipping drives upgrade
The company said the revised outlook reflects its performance so far this year and assumptions for the rest of 2026, supported by continued strength in its Shipping segment.

"The Company wishes to further update the market on the ongoing strength of our Shipping segment. This updated guidance reflects actual performance year to date and assumptions for the remainder of the year that reflect ongoing market strength. Our full-year results are highly dependent on regional dynamics," ADNOC L&S said.

Offshore contracting also improves
ADNOC L&S also said its Offshore Contracting segment has benefited from gradual improvements in material handling volumes within the Integrated Logistics Services Platform.

Guidance now reflects higher ILSP material handling volumes, while the company has kept its previous assumptions for the Jack-Up Barge fleet unchanged.

The revision signals broader support across key operating lines, although the company made clear that regional dynamics will continue to play a major role in shaping full-year results.

Dividend policy unchanged
ADNOC L&S said its guidance for capital expenditure, leverage and dividend policy remains unchanged and aligned with its capital allocation framework.

The company is scheduled to announce its second-quarter 2026 results on August 11.

Gulfnews