Electricity Generating Public Company Limited, or EGCO, reported second-quarter 2026 core profit of 45 million baht, down 95 percent from the previous quarter and 98 percent from a year earlier, coming in far below analyst expectations. The main reason was higher-than-expected tax expenses. Yuanta Securities said first-half core profit accounted for only 25 percent of its full-year forecast of 4.056 billion baht, implying downside of about 10 percent, and that it is seeking additional information from the company on taxes. The broker expects third-quarter core profit to recover to 1.0 to 1.2 billion baht, helped by seasonal factors at hydropower plants in Laos and natural gas power plants in the United States, as well as a full quarter of higher availability payments. Yuanta maintained its buy recommendation with a target price of 187 baht per share for the end of 2027 and expects a dividend of 6.50 baht per share per year, representing a yield of 5.0 percent.
Electricity Generating Public Company LimitedQ2 core profit missed estimates due to higher tax expenses, implying downside to full-year forecast.
