Iran war’s disruption showing up in Gulf corporate earnings

The Iran war’s toll on corporate earnings will become clearer this week as Gulf companies start to report second-quarter earnings.

Abu Dhabi-based ADNOC Gas should reflect a near 20% drop in domestic gas sales following Iranian drone and missile attacks at its Habshan gas processing plant in April that disrupted supplies, Reuters reports. 

Dubai-based Emaar Properties, Aldar and other developers are likely to demonstrate the war’s toll on the UAE housing market with declines reported in second-quarter residential sales.

Lenders including Saudi National Bank and Emirates NBD will show the effects of weaker trade finance, tourism and international spending, the news agency said.

Saudi Arabia’s economy is now forecast to grow 1.7% this year after the IMF cut its estimate by 1.4 percentage points, while lowering its overall 2026 growth forecast for the Middle East to 0.7% from 1.9% because of the fallout from the Strait of Hormuz disruption.