PTT Public Company (PTT) Q2 2026 earnings summary

Executive summary

• Sales revenue in 2Q2026 rose 22.7% YoY and 15.5% QoQ to Baht 830,389 million, driven by higher oil prices and increased trading, refining, and exploration revenues.

• Net profit in 2Q2026 surged over 100% YoY and QoQ to Baht 52,525 million, supported by improved product spreads and operational efficiency.

• EBITDA adjusted for hedging in 2Q2026 was Baht 156,302 million, up 94.1% YoY and 34.9% QoQ, mainly from refining and petrochemical segments.

Financial highlights

• 1H2026 sales revenue reached Baht 1,549,118 million, up 12.5% YoY; net profit was Baht 78,263 million, up 74.5% YoY.

• 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 in 2Q2026 was Baht 1.85, more than double YoY and QoQ.

Outlook and guidance

• Global economic growth is expected to continue, but energy markets remain volatile due to Middle East tensions.

• Dubai crude oil price for 2026 is projected at US$78–88/bbl; Singapore GRM at US$16.7–17.7/bbl.

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