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北京时间·🕒 发布 13:56:25时区推断·⟳ 抓取 13:56:42·⚡ 决策 08-04 14:04:02 +7m20s·84.2 天前
沙特阿美二季度调整后净利润334亿美元,同比增长33%并超预期
沙特阿美二季度调整后净利润334亿美元,高于31.59亿美元市场预期并同比增长33%,但主要由油价和地缘冲突驱动。
📄 原文CNBC Top News↗ 原文
Saudi Aramco profits jump 33% in second quarter as Iran war squeezes oil supply
Saudi Aramco on Tuesday reported a jump in second-quarter profit, following a period of severe disruption through the S…
不做 沙特阿美(2222.SR)
财报利好主要是已知油价和冲突主题的兑现,超大市值弹性不足,不做。
不做 埃克森美孚(XOM.US)
本条未披露埃克森新的公司级增量,特朗普口头批评也非正式政策损害,不做。
不做 雪佛龙(CVX.US)
本条未披露雪佛龙新的公司级增量,油价受益已是高扩散背景,不做。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
🔎 新鲜度:最早出现 2026-08-04 · 扩散 high · price-in 风险 high ↗
关键理由
- 沙特阿美二季度调整后净利润334亿美元,高于31.59亿美元市场预期并同比增长33%,但主要由油价和地缘冲突驱动。
- 公司维持219亿美元季度基础股息,未见新增资本返还或产量指引上修,超大市值标的短线弹性有限。
- 文中提到埃克森美孚和雪佛龙盈利大增及特朗普压低油价表态,但这不是两家公司新的正式经营指引或政策损害。
主要风险
- 油价和中东冲突已是高扩散宏观变量,财报利好可能已在能源股中提前反映。
原文全文
展开原文 · 2,789 字
Saudi Aramco on Tuesday reported a jump in second-quarter profit, following a period of severe disruption through the Strait of Hormuz amid the sprawling Middle East conflict.
The world's largest oil company posted adjusted net income of 125.2 billion Saudi riyal ($33.4 billion) over the April to June period, up 33% year-on-year and beating analyst expectations of $31.59 billion.
The results come as oil supermajors have reported blowout quarterly profits, benefitting from higher fossil fuel prices amid hostilities between the U.S. and Iran.
The more than five-month-old conflict, which was already expanding beyond its main fronts, has embroiled further countries in the Middle East in recent days, notably the likes of Iraq and Egypt.
Aramco has responded to the Iran war by leveraging its 1,200-kilometer (746 miles) East-West pipeline to the Red Sea, bypassing the Strait of Hormuz, to maintain exports at a maximum capacity of 7 million barrels per day.
Key highlights from Q2:
- Cash flow from operating activities came in at $25.4 billion in the second quarter.
- Gearing ratio of 6.2% at the end of June, compared to 4.8% at the end of the first quarter.
- Aramco said it continues to utilize its East-West pipeline to increase supply flexibility.
"Despite the unprecedented supply disruption through the Strait of Hormuz, we continued to demonstrate our ability to maintain business continuity by capitalizing on our diverse asset base and multi-decade planning, including strategic infrastructure such as the East-West Pipeline, storage capacity, and export terminals," Aramco President and CEO Amin H. Nasser said in a statement.
"That enabled us to sustain production and exports while advancing key projects, despite the challenging regional environment," he added.
Aramco's board said a second-quarter base dividend of $21.9 billion would be paid over the next three months.
The oil behemoth said the sharp increase in second-quarter revenue was primarily due to higher prices of refined and chemical products and crude oil, noting this was partially offset by lower volumes sold of crude oil and refined and chemical products.
Trump: U.S. oil majors making 'too much money'
Stateside, President Donald Trump on Monday lashed out at U.S. oil majors Exxon Mobil and Chevron for making "too much money" off higher fuel prices amid the Iran war, reiterating his demand for lower prices at the pump.
"They're making too much money based on a shortage," Trump told reporters at the White House. "I don't like it."
Exxon's second-quarter profits more than doubled to $14.5 billion compared to a year ago, while Chevron's earnings soared by nearly 400% to $12 billion compared to $2.5 billion in the same period last year. CNBC has reached out to Exxon and Chevron for comment.
The world's largest oil company posted adjusted net income of 125.2 billion Saudi riyal ($33.4 billion) over the April to June period, up 33% year-on-year and beating analyst expectations of $31.59 billion.
The results come as oil supermajors have reported blowout quarterly profits, benefitting from higher fossil fuel prices amid hostilities between the U.S. and Iran.
The more than five-month-old conflict, which was already expanding beyond its main fronts, has embroiled further countries in the Middle East in recent days, notably the likes of Iraq and Egypt.
Aramco has responded to the Iran war by leveraging its 1,200-kilometer (746 miles) East-West pipeline to the Red Sea, bypassing the Strait of Hormuz, to maintain exports at a maximum capacity of 7 million barrels per day.
Key highlights from Q2:
- Cash flow from operating activities came in at $25.4 billion in the second quarter.
- Gearing ratio of 6.2% at the end of June, compared to 4.8% at the end of the first quarter.
- Aramco said it continues to utilize its East-West pipeline to increase supply flexibility.
"Despite the unprecedented supply disruption through the Strait of Hormuz, we continued to demonstrate our ability to maintain business continuity by capitalizing on our diverse asset base and multi-decade planning, including strategic infrastructure such as the East-West Pipeline, storage capacity, and export terminals," Aramco President and CEO Amin H. Nasser said in a statement.
"That enabled us to sustain production and exports while advancing key projects, despite the challenging regional environment," he added.
Aramco's board said a second-quarter base dividend of $21.9 billion would be paid over the next three months.
The oil behemoth said the sharp increase in second-quarter revenue was primarily due to higher prices of refined and chemical products and crude oil, noting this was partially offset by lower volumes sold of crude oil and refined and chemical products.
Trump: U.S. oil majors making 'too much money'
Stateside, President Donald Trump on Monday lashed out at U.S. oil majors Exxon Mobil and Chevron for making "too much money" off higher fuel prices amid the Iran war, reiterating his demand for lower prices at the pump.
"They're making too much money based on a shortage," Trump told reporters at the White House. "I don't like it."
Exxon's second-quarter profits more than doubled to $14.5 billion compared to a year ago, while Chevron's earnings soared by nearly 400% to $12 billion compared to $2.5 billion in the same period last year. CNBC has reached out to Exxon and Chevron for comment.
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