Saudi utility company Acwa reported a 71.1 per cent rise in third-quarter profit attributable to shareholders, reaching 635.1 million Saudi riyals, or about US$169.4 million. The figures cover the three months to 30 September 2026 and were disclosed in a 5 November filing with the Saudi Exchange. Revenue increased by 32.7 per cent, from 1.66 billion riyals in the same quarter a year earlier to 2.2 billion riyals.

Quarterly operating profit rose by 88.2 per cent, from 587.5 million to 1.11 billion riyals. Gross profit increased by 16.6 per cent to 1.09 billion riyals. Acwa attributed the improvement in net profit to higher earnings from businesses in which it holds stakes, stronger gross profit and lower administrative costs. Financing charges, project development and acquisition costs, and exchange-rate movements offset part of those gains.

The nine-month figures showed a smaller increase in profit. Net profit rose 0.6 per cent to 1.29 billion riyals, while revenue increased 16 per cent to 6.24 billion riyals. Gross profit reached 2.99 billion riyals, up 8.1 per cent. Operating profit fell 8.8 per cent to 2.55 billion riyals from 2.79 billion riyals a year earlier.

Acwa said higher earnings from operations and maintenance, energy sales and the sale of shared facilities contributed to revenue growth over the nine months. Revenue from development, procurement and construction services fell. The company also cited lower impairment expenses as a factor supporting net profit over the period.