Focus: U.S. Stock Q1 2026 Earnings Reports The company forecasts full-year net profit between $3.5 billion and $4 billion, down from last year's record $5.2 billion. A truck passes through the facility of ADNOC Gas. Two-thirds of ADNOC Gas's sales volume supplies domestic customers. ADNOC Gas stated that the closure of the Strait of Hormuz will negatively impact its full-year net profit; even if the waterway reopens later and higher oil prices partially offset the sales loss, it will be difficult to fully mitigate the impact. The Abu Dhabi state-owned gas company indicated on Tuesday that, due to the strait blockade, it expects a $400 million to $600 million loss in net profit for the second quarter. This forecast is based on the assumption that shipping can return to normal before the end of the quarter. Since the conflict erupted in late February, navigation through the Strait of Hormuz has been largely paralyzed. Iran's threats to attack passing vessels, coupled with the subsequent U.S. maritime blockade, have triggered a severe energy supply shock. Peace talks that could lead to the reopening of the strait are ongoing, but the situation remains fragile. President Trump acknowledged on Monday that the current ceasefire agreement with Iran is hanging by a thread. Even if the strait reopens, the resumption of cargo shipments depends on vessel availability and scheduling, a logistical coordination effort that could take several weeks. Two-thirds of ADNOC Gas's sales volume consists of domestic natural gas product supplies; the remaining one-third is exported overseas via the Strait of Hormuz, including liquefied petroleum gas (LPG), liquefied natural gas (LNG), and naphtha. Assuming the waterway resumes navigation in the second half of this year, the company anticipates that rising LNG and LPG prices will partially offset the sales loss from delayed deliveries. Due to the shipping disruption, the company expects its full-year 2026 net profit to range between $3.5 billion and $4 billion, compared to last year's record net profit of $5.2 billion. First-quarter earnings showed the company's net profit decreased by 15% year-over-year to $1.08 billion. Despite the ongoing geopolitical conflict, the company maintains its 2026 dividend expectations and adheres to its policy of a 5% annual dividend growth through 2030, while also announcing a quarterly dividend distribution of $941 million. Furthermore, the company remains committed to its long-term performance target: achieving over 40% growth in EBITDA between 2023 and 2029.
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