ADNOC L&S Boosts 2026 Forecast Following Profit Surge

May 14, 2026

72 min

May 14, 2026 05:30

ADNOC L&S lifts 2026 guidance after profit rises to $222 million

## Profit and Revenue Overview

ADNOC Logistics & Services (ADNOC L&S) has increased its financial guidance for 2026 after reporting a 20% rise in first-quarter profits, reaching $222 million. Despite a 10% drop in revenue to $1.08 billion, the company benefited from higher shipping rates and improved margins.

## Shipping Segment Performance

The shipping division was a key driver of growth, with revenue climbing 4% to $512 million. This was supported by increased global charter rates and the addition of new vessels. The segment's EBITDA rose by 37% to $197 million, enhancing its margin to 38%.

## Logistics and Services Segments

The Integrated Logistics segment saw a 23% revenue decline due to the completion of the Al Omairah Island project. However, the Services segment experienced a 5% revenue increase, aided by contributions from a new logistics service platform and the Integr8 bunkering business.

## Fleet Expansion and Environmental Initiatives

ADNOC L&S continues to expand its fleet, adding new LNG carriers designed to cut methane emissions by 50%. These vessels are part of a $1.2 billion order and will be used under long-term contracts starting May 2026.

## Future Outlook

The company has revised its 2026 guidance upwards for revenue, EBITDA, and net income, while maintaining a cautious stance on offshore contracting due to regional uncertainties. ADNOC L&S plans to increase its annual dividend by 5% from 2026 to 2030, with a projected payout of $341 million for FY2026.

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