‎Borouge Q2 2026 earnings forecast

‎<p class="ckeCaption"><span ><span class="ckeCaption" ><img src="https://argaamplus.s3.amazonaws.com/300ef67c-9287-4553-81cc-a8cd23148250.png" ></span></span>Borouge profit outlook improves on consensus estimates</p> <p></p> <hr> <p></p> <p>In this report, Argaam highlights the expected results of Borouge PLC for Q2 2026, as well as its quarterly earnings trends, operating performance, and profitability indicators.</p> <p></p> <p>Quarterly Revenue– USD mln</p> <table border="0" cellpadding="0" cellspacing="3"> <thead> <tr> <th > <p >Item</p> </th> <th > <p >2Q 2025</p> </th> <th > <p >3Q 2025</p> </th> <th > <p >4Q 2025</p> </th> <th > <p >1Q 2026</p> </th> <th > <p >2Q 2026 (Consensus)</p> </th> </tr> </thead> <tbody> <tr> <td > <p>Revenue</p> </td> <td > <p>1,305.3</p> </td> <td > <p>1,447.2</p> </td> <td > <p>1,675.7</p> </td> <td > <p>1,175.2</p> </td> <td > <p>1,172.7</p> </td> </tr> <tr> <td > <p>Change (%)</p> </td> <td > <p>(13.2%)</p> </td> <td > <p>(9.5%)</p> </td> <td > <p>+3.4%</p> </td> <td > <p>(17.2%)</p> </td> <td > <p>(10.2%)</p> </td> </tr> </tbody> </table> <p></p> <p></p> <p>Quarterly Earnings– USD mln</p> <table border="0" cellpadding="0" cellspacing="3"> <thead> <tr> <th > <p >Item</p> </th> <th > <p >2Q 2025</p> </th> <th > <p >3Q 2025</p> </th> <th > <p >4Q 2025</p> </th> <th > <p >1Q 2026</p> </th> <th > <p >2Q 2026 (Consensus)</p> </th> </tr> </thead> <tbody> <tr> <td > <p>Net income</p> </td> <td > <p>191.7</p> </td> <td > <p>292.1</p> </td> <td > <p>326.6</p> </td> <td > <p>154.7</p> </td> <td > <p>228.5</p> </td> </tr> <tr> <td > <p>Exceptional items</p> </td> <td > <p>0.0</p> </td> <td > <p>0.0</p> </td> <td > <p>0.0</p> </td> <td > <p>0.0</p> </td> <td > <p>0.0</p> </td> </tr> <tr> <td > <p>Net income before exceptional and non-recurring items</p> </td> <td > <p>191.7</p> </td> <td > <p>292.1</p> </td> <td > <p>326.6</p> </td> <td > <p>154.7</p> </td> <td > <p>228.5</p> </td> </tr> <tr> <td > <p>EPS excluding non-recurring items (US cents/share)</p> </td> <td > <p>0.64</p> </td> <td > <p>0.97</p> </td> <td > <p>1.09</p> </td> <td > <p>0.51</p> </td> <td > <p>0.76</p> </td> </tr> </tbody> </table> <p></p> <p>Key Events in Q2 2026</p> <p></p> <p>Shareholders approved an interim cash dividend of AED 0.081 per share for H2 2025. The company also announced signing of a 50:50 joint venture agreement with Wanrong New Materials, a subsidiary of Wanhua Chemical Group, to establish a cracker unit and an integrated polyethylene production complex in China's Fujian Province.</p> <p></p> <p>Additionally, Borouge Group International completed the acquisition of a 90% stake in Borouge PLC through the purchase of ADNOC's 54% stake and Borealis' 36% stake, becoming the company's principal shareholder following the completion of the required regulatory procedures.</p> <p></p> <p>The UAE firm further announced its readiness to deliver the first shipment of cross-linked polyethylene from the Borouge 4 project during the current quarter. The project will double the company's production capacity to 200,000 tons per year, increase total production capacity by 1.4 million tons, and generate cumulative earnings of AED 1.5 billion over three years after reaching full operations.</p> <p></p> <p>It also announced an incident at its production facilities in the Ruwais Industrial Area. The incident resulted in damage to certain assets caused by debris following a successful air-defense interception. The company confirmed that no injuries were reported, all resulting fires were fully contained, and production activities were temporarily suspended in the affected areas pending completion of the damage assessment and the necessary repair work.</p> <p></p> <p>Average estimates</p> <p></p> <p>Borouge is expected to report a net income of $228.5 million for Q2 2026, a more than 19% increase year-on-year (YoY), according to forecasts by three research firms.</p> <p></p> <p>Average estimates – USD mln</p> <table border="0" cellpadding="0" cellspacing="3"> <thead> <tr> <th > <p >Research House</p> </th> <th > <p >Forecast (USD Million)</p> </th> </tr> </thead> <tbody> <tr> <td > <p>Goldman Sachs</p> </td> <td > <p>300.6</p> </td> </tr> <tr> <td > <p>UBS</p> </td> <td > <p>241.8</p> </td> </tr> <tr> <td > <p>First Abu Dhabi Securities</p> </td> <td > <p>143.0</p> </td> </tr> <tr> <td > <p>Analyst consensus</p> </td> <td > <p>228.5</p> </td> </tr> <tr> <td > <p>Net income before exceptional and non-recurring items (2Q 2025)</p> </td> <td > <p>191.7</p> </td> </tr> <tr> <td > <p>Difference (%)</p> </td> <td > <p>+19%</p> </td> </tr> </tbody> </table> <p></p> <p></p> <p>Stock performance</p> <table border="0" cellpadding="0" cellspacing="3"> <thead> <tr> <th > <p >Metric</p> </th> <th > <p >Company</p> </th> <th > <p >Market</p> </th> </tr> </thead> <tbody> <tr> <td > <p>Change YTD</p> </td> <td > <p>(8.37%)</p> </td> <td > <p>(1.58%)</p> </td> </tr> <tr> <td > <p>Change over the past 12 months</p> </td> <td > <p>(9.40%)</p> </td> <td > <p>(5.09%)</p> </td> </tr> <tr> <td > <p>Previous close</p> </td> <td > <p>2.41</p> </td> <td > <p>9,834.88</p> </td> </tr> <tr> <td > <p>Recurring P/E</p> </td> <td > <p>20.44x</p> </td> <td > <p>22.48x</p> </td> </tr> <tr> <td > <p>Trailing 12-month EPS excluding non-recurring items (AED/share)</p> </td> <td > <p>0.118</p> </td> <td > <p>—</p> </td> </tr> </tbody> </table>

Publication

Argaam - UAE News · Trade Publication

Published

29th July 2026

Original report

argaam.com

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