Yuanta Securities forecasts that Betagro Public Company Limited, or BTG, will see weaker second-quarter 2026 results compared to the previous quarter and the same period last year. Revenue is expected at 29 billion baht, up 3.0% from the previous quarter but down 3.6% year-on-year. Normalised profit is projected at 734 million baht, down 22.6% from the previous quarter and 59.7% year-on-year, due to lower pork and chicken prices, higher animal feed raw material costs, and a special tax item of 150 million baht. However, the broker expects a significant profit recovery in the third quarter of 2026, with preliminary normalised profit potentially reaching 1.4 to 1.6 billion baht, supported by accelerating chicken exports in both volume and price, along with recovering domestic demand and farming costs having passed their peak. Yuanta therefore maintains a buy recommendation and a target price of 25.50 baht, implying an upside of 20% from the current price.
Betagro PCLLower pork and chicken prices and higher feed costs hurt Q2 profit, but Q3 recovery expected.