Saudi Arabian Oil Exceeds Expectations, but Analysts Sour on 2026 Prospects

Saudi Arabian Oil Company (TADAWUL:2222) surprised analysts by releasing second-quarter results that exceeded market expectations.

The company's revenues were 15% higher than forecast, reaching ر.س522b, while statutory earnings per share (EPS) of ر.س0.50 beat analyst models by 7.4%.

Despite the positive result, analysts have become slightly less optimistic about the company's prospects, with revised forecasts for 2026 showing revenues expected to fall while EPS is predicted to rise 14% to ر.س1.92.

The consensus price target of ر.س30.12 remains unchanged, indicating that the market does not expect weaker revenue expectations next year to have a material impact on the company's value.