Most brokers continue to recommend buying or holding shares of Electricity Generating Public Company Limited, or EGCO, even though they expect second-quarter 2026 earnings to slow sharply. Core profit is forecast at 430 to 894.2 million baht, down 77 percent from a year earlier and down 23.4 to 56 percent from the previous quarter, as equity income from associates fell across several projects. For example, the Paju ES power plant was pressured by higher gas costs, the Yunlin wind farm faced a low-wind period, and US power plants underwent planned maintenance shutdowns. However, brokers see a strong recovery trend in the third quarter of 2026, with core profit expected to rebound both quarter-on-quarter and year-on-year to a range of roughly 800 million to 1.4 billion baht, driven by the high season for hydropower plants and the summer season for US plants, as well as higher revenue recognition. In addition, EGCO has positive factors from growth opportunities under the new PDP plan, potential expansion into the data center business, a strong financial position, and an attractive dividend yield of 4 to 5.6 percent per year.
Electricity Generating Public Company LimitedBrokers remain bullish with buy/hold ratings, citing Q3 recovery, growth opportunities, strong financials, and attractive dividend yield.