Abu Dhabi – Mubasher: ADNOC Drilling Company delivered its strongest first-quarter performance on record in terms of revenue and net income, backed by high fleet activity, integrated services growth, long-term contract coverage, and technology-led delivery across the fleet.
The company logged net profits after tax valued at $346.67 million in the first quarter (Q1) of 2026, up 2% from $340.94 million in Q1-25, according to the financial results.
Basic and diluted earnings per share (EPS) climbed to $0.022 in Q1-26 from $0.021 in the year-ago period.
ADNOC Drilling posted 5% year-on-year (YoY) higher revenues at $1.22 billion as of 31 March 2026, compared to $1.16 billion.
The ADX-listed group recorded a fleet size of 170 rigs across the GCC, the largest in MENA and one of the largest in the world.
Dividend Framework
The board members recommended a dividend of $262.50 million, equivalent to 6 fils per share, expected to be paid in early June to shareholders of record as of 18 May 2026.
The company’s $1.05 billion annual dividend floor for 2026 remains well supported by strong free cash flow generation, long-term contract coverage, and balance sheet strength.
CEO of ADNOC Drilling, Abdulla Ateya Al Messabi, commented: “Following our strongest year on record in 2025, we have delivered a resilient and disciplined start to 2026. This performance reflects the strength of our integrated drilling and energy services model, supported by long-term contracts, high utilization and consistent execution.”
Al Messabi continued: “As we progress through 2026, we remain focused on disciplined investment, strong cash generation, and sustainable long-term returns for shareholders, while supporting ADNOC’s production capacity objectives.”
