Arabian Pipes Company said its net profit attributable to shareholders fell 77.8% from a year earlier to SR6.2 million in the third quarter of 2026, from SR27.8 million.
The Saudi steel pipe maker attributed the drop to a 47.05% fall in gross profit caused by geopolitical events and supply chain disruption, which raised shipping costs, according to its preliminary results on the Saudi Exchange on Tuesday, Mubasher reported.
Revenue fell 39.12% to SR142.03 million in the quarter from SR233.29 million, mainly because of lower sales, the company said.
Operating profit declined 61% to SR9.9 million from SR25.5 million, Maaal reported.
Compared with the second quarter, net profit fell 31.37% from SR9 million.
For the first nine months, net profit fell 65.55% to SR35.3 million from SR102.4 million. The company cited a 50.13% decline in gross profit, higher shipping costs and a change in its sales mix.
Earnings per share for the nine months were SR0.14, compared with SR0.41 a year earlier.
