Adnoc Logistics and Services reported a fourfold jump in its second-quarter profit as revenue more than doubled on the back of a strong performance of its shipping business despite the uncertain geopolitical situation triggered by the Iran war.
Net profit attributable to the equity holders of the company in the three months to the end of June climbed to nearly $917 million compared to $229 million during the same period last year, Adnoc L&S said in a filing on Tuesday to the Abu Dhabi Securities Exchange, where its shares are traded.
Revenue for the quarter surged to $2.58 billion. The company also raised its 2026 financial guidance for the third time amid higher earnings.
“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,” Abdulkareem Al Masabi, chief executive of Adnoc L&S, said.
“Our fleet investments will enable us to accelerate the global expansion and transformative growth at Adnoc L&S as we create long-term value for our shareholders.”
