Sri Trang Gloves (Thailand) Public Company Limited (SET: STGT) recorded a major earnings turnaround in the third quarter of 2026, delivering a net profit of THB 325 million compared to a net loss of THB 106 million in 3Q25. The net profit margin recovered to 5.3%, up from negative 1.7% in the same period last year.
Sales revenue for 3Q26 held virtually flat at THB 6,086.9 million, up 0.1% year-on-year. While total sales volume dropped 19.8% year-on-year to 8,065.5 million pieces as customers exercised caution over raw material price trends, top-line performance was buffered by higher pricing.
The average selling price rose 24.5% year-on-year in US dollar terms (to $23.17 per 1,000 pieces) and 28.2% in Thai baht terms, reflecting elevated raw material and freight costs alongside Thai baht depreciation.
P&L performance benefited significantly from cost management and expanded margins. Cost of goods sold declined 5.3% year-on-year to THB 5,346.9 million, supported by production efficiency and automation initiatives. Consequently, gross profit surged 69.7% year-on-year to THB 740 million, expanding the gross profit margin from 7.2% in 3Q25 to 12.2% in 3Q26.
Non-operating items also provided a substantial boost to the bottom line. Other income soared 559.7% year-on-year to THB 287.3 million, primarily fueled by THB 251.5 million in flood damage insurance compensation.
Additionally, STGT recorded a net foreign exchange gain of THB 38.6 million (versus a net loss of THB 14.3 million in 3Q25) and a 28.7% reduction in finance costs to THB 40.7 million due to loan repayments. SG&A rose modestly by 1.6% year-on-year to THB 519 million, reflecting machinery depreciation reallocation and freight costs.
Overall, STGT’s 3Q26 performance underscores resilient operational recovery driven by average selling price adjustments, efficiency gains, and insurance income.
