Riyadh — Mubasher: SAL Saudi Logistics Services Company delivered a stronger-than-expected performance in the second quarter (Q2) of 2026, driven by a robust recovery in air cargo activity following disruptions in the previous quarter, according to a report by Aljazira Capital.
The report showed that the rebound in cargo volumes supported stronger demand and improved revenue per kilogram, contributing to the company's earnings outperformance during the quarter.
Aljazira Capital expects operating conditions to normalize in Q3-26. However, cargo volumes are projected to remain supported by several new airline partnerships secured during the second and third quarters, including agreements with Fly Khiva, Centrum Air, Singapore Airlines, and SF Airlines.
The report noted that SAL is currently trading at an estimated FY2026 price-to-earnings (P/E) ratio of 18.0x and offers an expected dividend yield of 4.20%.
In Q2-26, SAL recorded net profits valued at SAR 191.39 million on the support of a 29.99% growth in quarterly revenue.
