Sector Earnings in Q2 2026
qahtani nadaSeptember 15, 20262 min read
Sector Earnings in Q2 2026
- Energy Leads as Materials Recover: The Earnings Map of the Market Is Changing
- 79.5% for Energy… and a Turnaround Story in Materials
- From Losses to Billions: How Did the Sectors Reshape the Earnings Landscape?
- The Market Between Energy Dominance and Consumer Pressure: A Review of Sector Earnings
- The Market Spoke One Language This Quarter: Energy. With a 79.5% market share and more than SAR 127 billion in earnings, Energy remains the solid core carrying the performance of the broader market.
- Banks Remain the Quiet Workhorse: Earnings grew 6.1%, with a 7.6% market share. Stable without the noise, but highly effective.
Where Were Sector Earnings Concentrated in Q2 2026?
Sector | Energy | Banks | Utilities | Telecommunications | Materials | Real Estate Management & Development | Health Care | Food Production | Application & Technology Services | Capital Goods |
|---|---|---|---|---|---|---|---|---|---|---|
Market Share | 79.5% | 7.6% | 3.3% | 3.0% | 1.1% | 0.9% | 0.8% | 0.7% | 0.7% | 0.6% |
Earnings (SAR million) | 127,004 | 12,064 | 5,279 | 4,728 | 1,808 | 1,455 | 1,292 | 1,126 | 1,059 | 995 |
- The standout story this quarter? Materials. The sector moved from a SAR 588 million loss to SAR 1.8 billion in profits. A turnaround reflecting genuine improvements in supply-chain efficiency.
- Meanwhile, Consumer-related sectors and Media are facing clear pressure. Media & Entertainment, in particular, swung from SAR 108 million in profit to a SAR 475 million loss — a gap that warrants close monitoring.
- A structural change is also underway: The GICS reclassification introduced a new Technology Hardware & Equipment sector, a move aimed at aligning the Saudi Parallel Market with the evolving global industry classification framework.
Key Structural Shifts in Q2 2026 Results
Return to Profitability
- Materials: Turned around from a SAR 588 million loss to SAR 1.8 billion in profit, led by #SABIC and #Maaden.
- Transportation: Turned around from a SAR 341 million loss to SAR 156 million in profit.
Pressure on Profitability
- Media & Entertainment: Fell into losses of SAR 475 million.
- Consumer Staples Retailing & Distribution: Earnings declined by 38.2%.
Q2 2026 Takeaway
Dominant Energy | Stable Banks | Recovering Materials | Consumer & Media Under Pressure
A New Structural Development in the Saudi Financial Market
As of mid-September 2026, the Saudi Exchange implemented the reclassification of 10 listed companies under the global GICS standard:
- 4 companies in the Main Market: Jabal Omar, Taiba, Ayyan, and Fawaz Holding (Fawaz Alhokair).
- 6 companies in the Parallel Market (Nomu).
- A new sector introduced on Nomu: Technology Hardware & Equipment.