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Palm oil producer First Resources' Q3 revenue rises 24.9% on higher output

By Reuters News


Overview

  • Singapore-listed palm oil producer's Q3 revenue rose 24.9% yr/yr, driven by higher sales volumes

  • Underlying net profit for Q3 increased 40.1% yr/yr

  • Company says higher output and inventory drawdown boosted sales


Outlook

  • Company expects palm oil demand to be supported by Indonesia's biodiesel programme and B50 mandate

  • Elevated crude oil prices expected to support biodiesel economics and CPO demand

  • First Resources says El Nino impact on palm oil production likely in 2027 due to lag effect


Result Drivers

  • HIGHER PRODUCTION OUTPUT - Co said increased production output contributed to higher sales volumes

  • INVENTORY DRAWDOWN - Net inventory drawdown of 28,000 tonnes in 9M2026 supported higher sales volumes

  • THIRD-PARTY PURCHASES - Increased purchases of FFB and palm oil products from third parties supported sales


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M Revenue

$1.55 bln

9M Adjusted Net Income

$338.9 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the food processing peer group is "buy"

  • Wall Street's median 12-month price target for First Resources Ltd is S$5.15, about 84.4% above its November 12 closing price of S$2.79

  • The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 10 three months ago


Reuters Recommended Reads

  • Nov 10 - Canada's Freehold Royalties Q3 revenue surges

  • Nov 11 - Argentina's Bioceres Crop Solutions Q1 revenue falls on delayed soybean sales

  • Nov 10 - Austevoll Seafood Q3 revenue falls on early closure of Peru's fishing season due to warm seawater


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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