Formosa Plastics (1301) Q1 2026 earnings summary

Executive summary

• 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.

• Gross margin improved to 4% from 5% year-over-year, while operating loss narrowed to NT$1.3 billion from NT$0.89 billion.

• Comprehensive income surged to NT$30.18 billion, mainly due to strong equity method investment gains and other comprehensive income.

Financial highlights

• 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.

• Basic and diluted EPS were NT$0.51, up from NT$0.01 in Q1 2023.

• Total assets increased to NT$593.53 billion from NT$505.92 billion year-over-year.

• Cash and equivalents at quarter-end were NT$10.20 billion.

Outlook and guidance

• Management expects continued improvement in profitability, supported by robust equity investment returns and stable core operations.

• No significant seasonality or cyclicality is expected due to diversified product lines.