Ma’aden Reports Q3 Revenue Growth, Lower EBITDA and Capex Guidance Cut
Ma’aden said Q3 revenue rose 11% year over year to $3.0 billion, while EBITDA fell 24% to $870 million. The company also cut full-year capital expenditure guidance by approximately $1 billion. Phosphate faced higher sulfur costs and constrained ammonia exports; aluminum and gold divisions recorded their best results.
Saudi Arabian Mining Company (Ma'aden) released its Q3 2026 financial results, highlighting a revenue increase of 11% year-over-year to $3.0 billion. Despite the top-line growth, EBITDA fell 24% to $870 million, as the company faced pressure in its phosphate segment driven by higher sulfur costs and constrained ammonia exports. Conversely, the company's aluminum and gold divisions achieved record results during the quarter. Additionally, Ma'aden announced a reduction in its full-year capital expenditure guidance by approximately $1 billion.