SABIC returns to profitability with $220m adjusted net income in Q3

Saudi Basic Industries Corp. (SABIC) reported a return to profitability for the third quarter, achieving an adjusted net income of $220 million (SR840 million). This performance marks a recovery for the petrochemicals producer, which had recorded an adjusted net loss of $101 million (SR380 million) in the previous quarter. The company attributed the positive financial results to improvements in both revenue and earnings compared to the second quarter of the year.