PTT Public Company (PTT) Q2 2026 earnings summary

Executive summary

• Net income for 1H2026 reached THB 78,263 million, up 74.5%–75% year-over-year, driven by strong spreads, improved gas and trading margins, and balanced segment contributions.

• Navigated significant global energy market disruptions, including Middle East conflicts and volatile oil and gas prices, by ensuring energy security and supply continuity.

• Strategic focus on core business, energy security, decarbonization, and investments in refinery flexibility, global trading, LNG, CCS, and hydrogen.

• Maintained robust liquidity and investment grade credit ratings, supported by profit enhancement initiatives and prudent capital management.

• Group initiatives like MissionX and AXIS generated over Baht 8.7 billion in value.

Financial highlights

• 1H2026 consolidated revenue was THB 1,549,118 million, up 12.5%–13% year-over-year; EBITDA (adjusted) was THB 272,181 million, up 55%–55.5% year-over-year.

• Q2 2026 net income was THB 52,525 million, more than doubling year-over-year and quarter-on-quarter.

• Gross profit margin improved to 19.71% in 1H2026 from 9.99% in 1H2025; net profit margin rose to 7.72% from 4.43%.

• Earnings per share for 1H2026 was Baht 2.76, up from Baht 1.57 in 1H2025.

• Total assets as of 30 June 2026 were Baht 3,522,490 million, up 7.7% from year-end 2025.

Outlook and guidance

• Global GDP growth forecast at 3.0% for 2026; Thailand at 2.2%–2.3%.

• Oil prices expected to remain volatile (Dubai $78–88/bbl), with Singapore GRM at $16.7–17.7/bbl.

• Focus on energy security, supply diversification, and strategic investments in LNG, CCS, and hydrogen.

• Olefins and aromatics prices expected to soften in 3Q2026 due to increased supply and weaker demand.

• Continued focus on digitalization, operational efficiency, and disciplined investment to support long-term growth.