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Singapore's SBS Transit Q3 revenue dips on lower rail ridership yr/yr

By Reuters News


Overview

  • Singapore public transport operator's Q3 revenue decreased 1.1% to S$382.1 mln

  • Average daily ridership for NEL and DTL fell slightly yr/yr, rose from previous qtr

  • Company completed Sengkang West Inner Loop upgrade ahead of schedule


Outlook

  • SBS Transit will hand over BC802 Serangoon-Eunos bus package operations from 13 June 2027

  • Company to write back $13 mln from prior Fuel Equalisation Fund provisions in FY2026


Result Drivers

  • RIDERSHIP TRENDS - Average daily ridership for NEL and DTL fell slightly from a year ago but increased compared to previous qtr

  • SERVICE UPGRADE - Sengkang West Inner Loop upgrade completed ahead of schedule, with full train service resuming earlier than planned

  • FUEL FUND WRITE-BACK - Public Transport Council approved S$13 mln write-back from prior years’ Fuel Equalisation Fund provisions


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

S$382.12 mln


Analyst Coverage

  • The one available analyst rating on the shares is "hold"

  • The average consensus recommendation for the passenger transportation, ground & sea peer group is "buy."

  • Wall Street's median 12-month price target for SBS Transit Ltd is S$4.16, about 16.9% above its November 10 closing price of S$3.56

  • The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 17 three months ago


Reuters Recommended Reads

  • Nov 10 - Singapore to launch gold vault service for foreign central banks

  • Nov 10 - Singapore's Sea Limited Q3 revenue beats estimates on Shopee growth

  • Nov 10 - Singapore's Addvalue Technologies H1 profit doubles on strong demand


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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