Saudi Aramco reported a net income of $32.5 billion for the first quarter of 2026 on Sunday, marking a 25% uptick from $26 billion in the same period last year and above analysts' expectations. During the quarter, the world's top oil exporter's East-West crude pipeline reached full capacity to mitigate the impact of Iran's war on global supplies.
The state oil giant also reported a 27% jump in adjusted net income for the quarter at $33.6 billion. The company declared $21.9 billion in total dividends for the quarter, up 3.5% on a yearly basis. Aramco reported a free cash flow of $18.6 billion, "impacted by $15.8 billion of working capital build," and its gearing ratio came in at 4.8%.
"Our East-West Pipeline, which reached its maximum capacity of 7.0 million barrels of oil per day, has proven itself to be a critical supply artery, helping to mitigate the impact of a global energy shock and providing relief to customers affected by shipping constraints in the Strait of Hormuz," CEO Amin Nasser noted.
