Asia Plus Securities noted that PTG reported second-quarter 2026 results, swinging back to a net profit of 73.9 million baht from a net loss of 205.4 million baht in the first quarter of 2026, but below the research team's forecast, mainly due to higher-than-expected SG&A expenses and tax payments. Normalised profit stood at 73.9 million baht, supported by the oil business, where gross profit rose 16.0% from the previous quarter to 2.6 billion baht, as average gross profit per litre increased to 1.83 baht from 1.29 baht, even though total sales volume fell 17.9% to 1.4 billion litres. Meanwhile, the non-oil business saw gross profit decline 1.4% to 2.0 billion baht, and its gross profit margin fell to 42.8% from 46.9%. The research team maintained its 2026 normalised profit estimate at 404.6 million baht, down 60.5% from the previous year, and expects profit to have passed its low point for the year in the first quarter, with a gradual recovery in the second half. The end-2027 fair value is 9.6 baht per share.
PTG Energy PCLPTG swung to a net profit of 73.9 million baht in Q2 2026, though below forecast due to higher SG&A and taxes; oil business gross profit rose 16%.
