TOA shares fell 8.43% to 15.20 baht after second-quarter fiscal 2026 earnings came in below expectations. Krungsri Securities noted that normalized profit was 794 million baht, up 3% year-on-year but down 13% quarter-on-quarter, pressured by higher-than-expected selling and administrative expenses and a higher tax rate. Gross margin remained solid as price increases and sales during product-shortage concerns helped offset rising costs. The broker expects third-quarter fiscal 2026 profit to decline both year-on-year and quarter-on-quarter, as titanium dioxide costs and a weaker baht weigh on imports. It maintained a Neutral rating with a target price of 16.10 baht.
TOA Paint (Thailand) Public Company LimitedQ2 FY2026 earnings missed expectations; broker warns Q3 profit may decline further.
