GCC Listed Companies Post Record $67.9 Billion Profit in Q1 2026 on Energy and Banking Strength

Companies listed across the Gulf Cooperation Council delivered record earnings in the first quarter of 2026, with combined net profits reaching $67.9 billion, marking a 15.5 percent increase compared with the same period last year, according to a new report.

The performance was primarily driven by strong results in the energy sector, led by Saudi Aramco, as well as solid gains in banking, food and beverage, and capital goods industries. The findings were published by Kuwait-based investment firm Kamco Invest, which tracks regional corporate performance.

Aggregate revenues across GCC-listed companies also rose, climbing 7.7 percent year on year to $353.3 billion during the January–March period. The firm said the figures highlight the continued resilience of regional markets despite ongoing geopolitical tensions affecting investor sentiment.

Kamco Invest noted that quarterly momentum was particularly strong, with profits rising more than 40 percent compared with the fourth quarter of 2025. Energy companies were the main driver of the sequential improvement, supported by higher earnings in the materials and banking sectors. However, the gains were partially offset by weaker performance in real estate and the food and beverage segments.

Saudi Arabia remained the largest contributor to overall earnings growth, with listed companies in the Kingdom posting net profits of $44.4 billion, an increase of 22.2 percent year on year.

Saudi Aramco played a central role in this performance, reporting adjusted net income of $33.6 billion for the quarter, up 26 percent from a year earlier. The oil giant’s net income reached $32.5 billion for the three months ending March 31, compared with $26 billion in the same period in 2025.

Saudi banks also posted steady gains, with aggregate net profits rising 7.7 percent to SR24 billion ($6.4 billion), supported by strong performances from lenders including Al Rajhi Bank, Saudi National Bank, and Bank Albilad. The Kingdom’s telecom sector added further growth, with profits increasing 6.3 percent year on year to $1.3 billion.

Across the wider Gulf region, Abu Dhabi reported a 16.1 percent increase in profits to $10.6 billion, while Dubai posted a 12.3 percent rise to $6.8 billion. Bahrain and Oman also recorded growth of 17.6 percent and 4 percent respectively, reflecting broad-based regional expansion.

In contrast, Qatar and Kuwait were the only GCC markets to post declines during the quarter. Qatari listed companies saw profits fall 3.3 percent year on year, while Kuwait recorded a sharper drop of 48.9 percent, marking the weakest performance among Gulf markets.

Despite mixed performances across individual markets, the overall results underline the strength of the region’s largest sectors, particularly energy and banking, which continue to anchor corporate earnings growth across the GCC.