Finansia expects DELTA Q4/26 profit to top 10 billion baht, hitting a new high

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Analysts at Finansia Syrus Securities expect DELTA to post a fourth-quarter 2026 profit of more than 10 billion baht, setting a new record, driven by deliveries of delayed orders, higher capacity utilisation, and an improved product mix. For the third quarter of 2026, profit is expected to accelerate to 8.3 billion baht, up 37% from the previous quarter and up 12% from the same period a year earlier, on a recovery in gross margin to 28.5% and strong AI data centre demand. Revenue is expected to grow 15.0% from the previous quarter and 40.9% from the same period a year earlier, helped by more adequate raw materials, additional sourcing from other suppliers, and better internal production efficiency. Full-year 2026 profit is expected to grow 30% from a year earlier to 32.2 billion baht, while 2027 profit looks set to grow 40.6% from a year earlier to 45.3 billion baht, driven by order growth in both AI and non-AI data centres. Meanwhile, product price increases currently under negotiation could support profit from the first quarter of 2027 onward. The research team therefore rates the stock a Buy with a target price of 290 baht.

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