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Formosa Plastics (1301) investor relations material
Formosa Plastics Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales for 2026 Q1 were NT$42 billion, down 11.1% year-over-year due to lower ASP and reduced sales volume in key products.
Revenue for Q1 2024 was NT$41.99 billion, down 11% year-over-year, with net income of NT$3.27 billion, a significant increase from NT$50 million in Q1 2023.
Revenue increased 2.1% sequentially from 2025 Q4, driven by higher sales volume in PVC, HDPE, LLDPE, EVA, NBA, and MTBE, and higher ASP for most products except Caustic Soda.
Pre-tax income improved in 2026 Q1 compared to 2025 Q4, mainly from increased investment income from FPCC.
Comprehensive income surged to NT$30.18 billion, mainly due to strong equity method investment gains and other comprehensive income.
Financial highlights
2026 Q1 net sales: NT$42 billion; 2025 Q1 net sales: NT$47 billion.
2026 Q1 consolidated revenue: NT$41,985 million, up from NT$41,104 million in 2025 Q4.
Pre-tax income in 2026 Q1: NT$111 million, a recovery from a loss of NT$6,871 million in 2025 Q4.
Operating cash flow turned positive at NT$1.18 billion, compared to an outflow of NT$107 million in Q1 2023.
Equity method investment income reached NT$5.05 billion, up from NT$1.54 billion year-over-year.
Segment performance
PVC contributed 20% of revenue in both 2026 Q1 and 2025 Q1.
PE (HDPE/EVA/LLDPE) share increased to 23% in 2026 Q1 from 18% in 2025 Q1.
Specialty Chemicals (AN/MMA/MTBE) accounted for 9% of revenue in both periods.
Caustic Soda and AE were the main profit contributors in 2026 Q1.
All major segments reported lower revenues year-over-year, with Plastics and Polyolefins most affected.
- Q1 2024 saw steep declines in revenue and profit, with a total comprehensive loss of NT$3.61 billion.1301
Q1 20241 Jun 2026 - Net income fell 55% year-over-year to NT$1.59 billion on lower revenue but improved gross margin.1301
Q2 20241 Jun 2026 - Net loss of NT$1.5 billion on NT$149.7 billion revenue, with broad segment profit declines.1301
Q3 20241 Jun 2026 - Q1 2024 saw significant declines in revenue and profit, with a comprehensive loss of NT$3.61 billion.1301
Q4 20241 Jun 2026 - Net income fell sharply in Q1 2025, but comprehensive income rebounded on strong OCI.1301
Q1 20251 Jun 2026 - Net loss of NT$6.58 billion in H1 2025 amid revenue decline and operating losses across segments.1301
Q2 202529 May 2026 - Net loss widened to NT$7.18B on lower revenue and margins, with broad segment declines.1301
Q3 202529 May 2026 - Net loss widened to NT$10.05B on lower revenue and non-operating losses, despite improved leverage.1301
Q4 202529 May 2026
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