PTT Global Chemical Public Company Limited (SET: PTTGC) has reported a stellar financial performance for the second quarter of 2026, posting a net profit of THB 12 billion. This result surpassed both Yuanta Securities’ forecast and the Bloomberg consensus estimate by approximately 30%, primarily due to robust gains in the specialty petrochemical segment and higher-than-expected profit-sharing from investments.
The company’s net profit in 2Q26 soared by 278% quarter-on-quarter, marking a significant turnaround from the losses recorded in the same period last year and reaching the highest quarterly profit in 20 quarters. The sharp increase was driven by a remarkable recovery in its petrochemical business, specifically in the olefins segment.
The resurgence was supported by tighter supply conditions and increased sales volume following the completion of maintenance shutdowns. Additionally, effective cost control measures contributed to the impressive bottom line.
Yuanta Securities anticipates a positive short-term reaction in PTTGC’s share price as investors respond to the better-than-expected 2Q26 earnings report. The strong results also fuel expectations for a generous dividend payout. The company is projected to announce a first-half 2026 dividend of THB 1 per share, translating to a yield of approximately 2.7%.
PTTGC’s resilient performance in the face of global uncertainties positions the stock as an attractive hedging option, particularly during periods of heightened geopolitical risks, such as the ongoing war in the Middle East, according to the analyst.
