ADNOC stock price drops despite EBITDA meeting expectations and net profit increasing

2026-02-12 10:24:23

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Investing.com – Despite ADNOC reporting Q4 EBITDA of $560 million, in line with market consensus, and net profit exceeding expectations by 6.5%, the company’s stock still declined 1.3% on Thursday.

The increase in net profit was mainly due to one-time depreciation gains and reduced financing costs, rather than operational improvements.

The company’s core business faces challenges, with onshore and offshore EBITDA falling 11% and 5% below Morgan Stanley estimates, impacted by rising maintenance costs and changes in operational portfolio.

ADNOC’s Oilfield Services (OFS) division performed strongly, with revenue surpassing expectations by 13% and EBITDA exceeding expectations by 21%. ADNOC Drilling contributed significantly to this performance, recording $149 million in revenue from unconventional OFS operations.

The company’s 2026 and mid-term guidance remain consistent with market expectations and previous statements. ADNOC’s 2026 dividend outlook offers investors a 4.4% yield.

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