Overview:
UAE-listed companies delivered mixed third-quarter earnings as regional markets digest elevated interest rate expectations globally. Emsteel achieved strong gains on operational margin expansion, while aviation and logistics sectors showed divergent momentum. Oil prices fell on peace negotiation hopes, and the U.S. dollar climbed to a 19-month peak, pressuring commodities and emerging-market assets.
Details:
Emsteel's consolidated net profit reached 751 million dirhams in the nine months ending September 2026, a 165 percent jump from 283 million dirhams in the prior-year period. Earnings before interest, tax, depreciation and amortization climbed 61 percent to 1.322 billion dirhams, with the corresponding margin expanding to 18.7 percent from 12.7 percent.
Adnoc for Supply and Services posted stronger gains, reporting net profit of 7.56 billion dirhams for the nine-month period—a 227 percent increase—fueled by robust maritime shipping demand. Revenue rose 82 percent to 25.551 billion dirhams. By contrast, Abu Dhabi Aviation's net profit fell 25 percent to 524.8 million dirhams despite revenue growth of 22.9 percent to 6.817 billion dirhams, as maintenance service margins compressed.
Regionally, Mair Group (formerly Abu Dhabi Cooperative Association) earned 111.1 million dirhams, up 5 percent, while Drake and Scull reached 19.4 million dirhams with 74.4 percent growth. Vertilob reported a 56 percent increase in adjusted net profit to 1.3 billion dirhams. Orient Insurance's board approved a capital increase to 1 billion dirhams through a one-for-one bonus share issuance.
Outlook:
Rising rate expectations in the United States are reshaping asset allocation globally. Investors are monitoring whether regional earnings momentum can sustain amid margin pressures and currency headwinds as oil remains volatile and geopolitical risks persist over Black Sea grain shipments and China-Taiwan semiconductor policy.