Saudi Aramco Q3 Adjusted Net Income Rises 9% to $31.2 Billion Driven by Downstream Growth
Saudi Aramco reported a third-quarter adjusted net income of $31.2 billion, marking a 9% increase from the previous year and surpassing analyst expectations of $30.66 billion. The growth was primarily propelled by a significant 234% surge in downstream earnings, fueled by strengthened refining margins despite ongoing geopolitical tensions affecting global energy security. The company's financial health remains robust, with free cash flow rising to $28.2 billion from $23.6 billion year-on-year. In response to these results, the board declared a base dividend of $21.9 billion for the quarter, representing a 3.5% increase compared to the same period last year.
Topics: dividends downstream business earnings report free cash flow net income