Beng Kuang Marine (BEZ) Q3 2026 TU earnings summary

Executive summary

• 3Q2026 operating recovery lifted gross margin to 38.1%; offshore lifecycle work reached full execution and Batam projects advanced to later-stage delivery.

• PATMI of S$4.24m exceeded the full 1H2026 result of S$3.54m, supported by higher PBT and full ownership of ASOM earnings.

Financial highlights

• Revenue was S$28.6m, up 10.1% YoY and 4.6% QoQ; PBT was S$5.20m, up 15.1% YoY and 121.6% QoQ.

• PATMI was S$4.24m, up 1,174.6% YoY and 187% QoQ; 3Q2025 included S$0.83m net other gains, versus S$0.03m net other losses in 3Q2026.

• 9M2026 revenue was S$84.3m, up 9.8%; PBT was S$12.48m, down 8.1%, including S$1.49m disposal gains versus S$0.02m in 9M2025.

• 9M2026 PATMI was S$7.78m, up 173.9% YoY and 46% above FY2025 PATMI of S$5.33m.

Outlook and guidance

• 4Q2026 priorities: deliver contracted work safely and on schedule, protect margins, progress certification and billing, and turn completed work into cash.

• Contracted work and order book entering 4Q2026 totaled S$71.2m; offshore lifecycle work is expected to remain the larger part of the mix.

• The S$59.8m offshore lifecycle balance at 30 September is a point-in-time order book, not a revenue forecast; collections remain a priority.