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Adnoc Logistics Lifts 2026 Guidance Again as Profit Soars in First Half

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Adnoc Logistics Lifts 2026 Guidance Again as Profit Soars in First Half

Shares in Adnoc Logistics & Services (ADX:ADNOCLS) rose Tuesday morning after the energy maritime logistics company raised its full-year 2026 guidance as its first-half profit more than doubled year over year.

Attributable profit of the state-owned Abu Dhabi National Oil Co. unit for the six months ended June 30 rose to $1.12 billion from $409.3 million a year earlier, while revenue jumped to $3.67 billion from $2.44 billion.

The company's stock was up more than 2% in early trading in Abu Dhabi.

The conflict in the Middle East contributed to stronger demand for shipping and logistics services as trade routes were disrupted, driving charter rates higher. Shipping segment revenue in the first half rose 132% year over year to $2.44 billion.

Chief Executive Captain Abdulkareem Al Masabi said, "Strong fundamentals in the shipping market, our disciplined execution, and our ability to quickly respond to volatile market conditions, supported exceptional earnings and cash generation and a record result for the first half of 2026."

Adnoc Logistics lifted its full-year 2026 outlook for a third time and now expects a net profit growth of high 110%, compared with the previous guidance of high 60%. Revenue projections were raised to mid 20% growth from low single-digit growth.

The upgraded outlook incorporates the "favorable shipping market fundamentals" and "the strong earnings achieved supporting ADNOC Group," the company said.

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