Star Petroleum Refining (SPRC) Q3 2025 earnings summary

Executive summary

• Achieved strong operational and financial performance in Q3 2025, driven by refinery optimization, commercial integration, and cost efficiency initiatives.

• Completed acquisition of Star Fuels, delivering double-digit initial returns and significant synergy benefits.

• Achieved adjusted profit of $72.8M in Q3 2025, excluding a $27.4M stock loss, down 10% year-over-year.

• Maintained robust liquidity and a solid equity base as of June 30, 2026.

• Achieved strong profitability in Q2 2026, with significant year-over-year growth in both revenue and net income.

Financial highlights

• Q2 2026 consolidated revenue was $2.59 billion, up from $1.76 billion in Q2 2025.

• Net profit for Q2 2026 reached $213.1 million, compared to a net loss of $24.0 million in Q2 2025.

• Adjusted net profit for the first nine months of 2025 was $73 million; Q3 adjusted net profit was $36 million, up year-over-year.

• Consolidated EBITDA for Q3 2025 reached $88 million, showing significant growth both quarter-over-quarter and year-over-year.

• Basic earnings per share for Q2 2026 were $0.05, up from a loss per share of $0.01 in Q2 2025.

Outlook and guidance

• Focus on maximizing production and sales throughput in Q4 to capture strong refining margins and Singapore GRM.

• Continued emphasis on cost efficiency and operational readiness for the 2026 turnaround.

• Ongoing expansion of retail network and product placement, with diversification into ASEAN markets.

• Management signals continued focus on operational efficiency and cost control to sustain profitability.