Shares of IRPC Public Company Limited, or IRPC, rose 6.78% after KGI Securities Thailand said second-quarter 2026 net profit came in better than expected at 2.9 billion baht, compared with a net loss of 2.1 billion baht in the same period last year, but down 63% from the previous quarter. Profit was 9% above the research team's estimate because hedging gains were higher than expected at 1.0 billion baht, offsetting a larger-than-expected net oil stock loss of 2.5 billion baht. The research team maintained a hold recommendation with a mid-2027 target price of 2.20 baht, citing concern that crude run rates in the third quarter of 2026 are expected to fall 11-16% to 170-180 thousand barrels per day because middle distillate product storage tanks are nearly full after the Energy Ministry banned diesel exports. During the day, IRPC shares rose to a high of 2.56 baht and closed at 2.52 baht, with turnover of 528.10 million baht.
IRPC Public Company LimitedQ2 2026 net profit beat expectations due to higher hedging gains, despite oil stock losses.
