06:06 AM EDT, 07/14/2026 (MT Newswires) -- Riyad Capital maintained its neutral rating for Advanced Petrochemical Co (SASE:2330), with a 24.10 Saudi-riyal price target, after the company posted its second-quarter results. In the second quarter, the propylene and polypropylene products company logged an 18% annual increase in its revenue to 827 million riyals, broadly in line with the research firm's 916 million-riyal estimate, according to a first look note published Monday. Meanwhile, the company posted a net loss of 98 million riyals in the three-month period. "Advanced reported a 2Q26 net loss of SAR (98) mln - SAR (78) mln excluding a one-time non-cash depreciation charge of ~SAR 20 mln related to preponed 2027 maintenance, which is roughly in-line with our SAR (71) mln estimate, a swing from net profit both Y/Y and Q/Q, driven by the aforementioned feedstock-led production disruption, a headwind we flagged ahead of results in our 2Q26 equity preview. With observed spreads holding and our medium-term Hormuz scenario unchanged, we await a volume recovery," analysts said.

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