ADNOC L&S lifts 2026 profit outlook after strong shipping performance

ADNOC L&S now expects net profit to rise by high 60% in 2026

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Nivetha Dayanand, Assistant Business Editor
ADNOC L&S lifts 2026 profit outlook after strong shipping performance
Adnoc Logistics and Services

Dubai: ADNOC Logistics & Services has upgraded its full-year 2026 financial guidance after stronger second-quarter performance, with the company now expecting a much stronger rise in earnings than previously forecast.

The Abu Dhabi-listed company said on Monday that it now expects net profit to grow by the high 60% range in 2026, compared with its earlier forecast of mid-to-high-teens growth. EBITDA is now expected to grow by the high 20% range, compared with the earlier guidance of mid-to-high single-digit growth.

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Revenue is now expected to record low single-digit growth for the year. The previous forecast had pointed to a low-to-mid single-digit reduction.

Shipping drives upgrade

The company said the revised outlook reflects its performance so far this year and assumptions for the rest of 2026, supported by continued strength in its Shipping segment.

“The Company wishes to further update the market on the ongoing strength of our Shipping segment. This updated guidance reflects actual performance year to date and assumptions for the remainder of the year that reflect ongoing market strength. Our full-year results are highly dependent on regional dynamics,” ADNOC L&S said.

Offshore contracting also improves

ADNOC L&S also said its Offshore Contracting segment has benefited from gradual improvements in material handling volumes within the Integrated Logistics Services Platform.

Guidance now reflects higher ILSP material handling volumes, while the company has kept its previous assumptions for the Jack-Up Barge fleet unchanged.

The revision signals broader support across key operating lines, although the company made clear that regional dynamics will continue to play a major role in shaping full-year results.

Dividend policy unchanged

ADNOC L&S said its guidance for capital expenditure, leverage and dividend policy remains unchanged and aligned with its capital allocation framework.

The company is scheduled to announce its second-quarter 2026 results on August 11.

Nivetha Dayanand
Nivetha DayanandAssistant Business Editor
Nivetha Dayanand is Assistant Business Editor at Gulf News, covering aviation, financial markets and commodities. A business and financial journalist with a strong interest in multimedia storytelling, she regularly takes complex financial and economic subjects beyond the written word, producing explainer videos that make them easier for a wider audience to understand. Nivetha has interviewed senior policymakers, business leaders and global financial figures both on and off camera. Her past guests include UAE Minister of Economy and Tourism Abdulla bin Touq Al Marri, Khaled bin Alwaleed Al Saud, a member of the House of Saud and the founder and CEO of KBW Ventures, Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund and Indian ministers Hardeep Singh Puri and N. Chandrababu Naidu. She has also hosted and moderated panels, conferences and awards shows, bringing her newsroom experience to live conversations on business, finance and the economy. An Erasmus Mundus journalism alum, Nivetha is drawn to stories that affect people directly and to reporting that gives a platform to voices that might otherwise go unheard. She was among the first journalists to speak to Petrofac employees in the UAE about unpaid salaries, broke the news of the planned demolition of Dubai’s well-known “Toyota Building”, and helped set the record straight on widely circulated claims that a giant replica of the Moon was coming to Dubai. More recently, her exclusive interview with EDGE Group CEO Hamad Al Marar revealed how the UAE-based defence group deployed its systems along the country’s shore border and established a geofence around the UAE within 48 hours of the February 28 escalation. Prior to joining Gulf News, Nivetha worked at ITP Media, where she helped launch Finance Middle East, a new publication covering the region’s financial sector. Her role spanned reporting and editing, video production, interviews and events. Across print, digital, and video, she focuses on finding the people behind business stories and explaining why those stories matter to the audience reading or watching them.

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