Abu Dhabi – Mubasher: ADNOC Gas generated net income valued at $1.07 billion in the first quarter (Q1) of 2026, down 15% year-on-year (YoY) from $1.27 billion.
The revenues amounted to $5 billion as of 31 March 2026, an annual drop from $6.09 billion, according to the financial results.
The basic and diluted earnings per share (EPS) declined to $0.014 in Q1-26 from $0.017 in Q1-25.
Quarterly, the registered net income fell by 8% from $1.17 billion in Q4-25, while the revenues shrank by 9% from $5.48 billion.
The ongoing closure of the Strait of Hormuz is expected to affect the company’s Q2 net income, with projections indicating a range between $400 million and $600 million assuming maritime operations return to normal prior to the end of the quarter.
ADNOC Gas anticipates full-year 2026 net income to range from $3.50 billion to $4 billion, with this outlook reflecting the expected impact of Q2.
CEO of ADNOC Gas, Fatema Al Nuaimi, said: “This quarter was shaped by exceptional external disruption, and our priorities were clear: protect our people and assets, maintain safe domestic supply, and protect shareholder value through disciplined execution.”
Al Nuaimi added: “As we manage the disruption to maritime movements through the Strait of Hormuz, the long-term foundations of ADNOC Gas remain intact. Demand growth in the UAE—supported by continued industrial expansion – and increased flexibility associated with the UAE’s evolving production framework reinforce our confidence in ADNOC Gas’ strategy and dividend commitment.”
In 2025, ADNOC Gas recorded 3% YoY higher net profit after tax at $5.16 billion when compared to $5 billion.
