Overview

• Saudi Aramco's first-quarter net income fell 5% year-on-year to $26 billion, exceeding analyst forecasts of $25.3 billion.
• Free cash flow declined to $19.2 billion, down from $22.8 billion in Q1 2024, reflecting ongoing financial strain.
• Operating cash flow dropped to $31.7 billion from $33.6 billion a year earlier, highlighting weaker market conditions.
• The company's base dividend grew 4.2% to $21.1 billion, while performance-linked dividends remained significantly reduced at $200 million.
• Lower crude prices and global demand continue to challenge Aramco’s profitability and its funding contributions to Saudi Arabia's Vision 2030 initiatives.