Articles > Saudi Steel Pipe Co. Posts Interim Financial Results for Q1 2026
Saudi Steel Pipe Co. Posts Interim Financial Results for Q1 2026
By KlickAnalytics Data Insights | May 7, 2026 03:07AM ET
- Sales/Revenue decreases by 15.198% compared to the same quarter last year
- Net Profit Attributable to Shareholders of the Company increases by 4% compared to Q1 2025
- Total Shareholders Equity decreases by 0.876%
Saudi Steel Pipe Co. has announced its interim financial results for the period ending on March 31, 2026. In the current quarter, sales/revenue decreased to SAR 385 million from SAR 454 million in the same quarter of the previous year. The company reported a gross profit of SAR 109 million and an operational profit of SAR 88 million. Net profit attributable to shareholders of the issuer increased to SAR 52 million, reflecting a 4% increase compared to Q1 2025. Total comprehensive income attributable to shareholders was also recorded at SAR 52 million.
In terms of equity, the total shareholders' equity after deducting minority equity was reported at SAR 905 million. The profit per share for the current period stood at SAR 1.04, showing an increase from the previous year.
The company attributed the decrease in sales/revenues to a volume decrease in the first quarter of 2026 compared to the same period in 2025. However, the net profit increase was mainly due to lower expenses in various areas, such as marketing, distribution, and finance charges. Additionally, the improved mix of products sold contributed to the increase in revenue from the previous quarter.
To ensure transparency, the company's external auditor provided an unmodified conclusion in their report, with no other matters, conservations, notices, disclaimers of opinion, or adverse opinions mentioned. For more detailed information and highlights of the quarter, please refer to the attached document.
- Net Profit Attributable to Shareholders of the Company increases by 4% compared to Q1 2025
- Total Shareholders Equity decreases by 0.876%
Saudi Steel Pipe Co. has announced its interim financial results for the period ending on March 31, 2026. In the current quarter, sales/revenue decreased to SAR 385 million from SAR 454 million in the same quarter of the previous year. The company reported a gross profit of SAR 109 million and an operational profit of SAR 88 million. Net profit attributable to shareholders of the issuer increased to SAR 52 million, reflecting a 4% increase compared to Q1 2025. Total comprehensive income attributable to shareholders was also recorded at SAR 52 million.
In terms of equity, the total shareholders' equity after deducting minority equity was reported at SAR 905 million. The profit per share for the current period stood at SAR 1.04, showing an increase from the previous year.
The company attributed the decrease in sales/revenues to a volume decrease in the first quarter of 2026 compared to the same period in 2025. However, the net profit increase was mainly due to lower expenses in various areas, such as marketing, distribution, and finance charges. Additionally, the improved mix of products sold contributed to the increase in revenue from the previous quarter.
To ensure transparency, the company's external auditor provided an unmodified conclusion in their report, with no other matters, conservations, notices, disclaimers of opinion, or adverse opinions mentioned. For more detailed information and highlights of the quarter, please refer to the attached document.
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