EarningsQ2 2026 Earnings Report
DE:FPC Q2 2026 EPS Results
Actual EPS€0.08
Consensus EPS―
Beat/Miss―
One Year Ago EPS€0.08
DE:FPC Q2 2026 Revenue Results
Actual Revenue€4.66B
Expected Revenue―
Beat/Miss―
YoY Revenue Growth+6.17%
Earnings Announcement Details
QuarterQ2 2026
Date08/27/2026
TimeBefore Open
Conference CallThursday, August 27, 2026
DE:FPC Upcoming Earnings
First Pacific Co's next earnings date is estimated for April 1, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:FPC Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented multiple strong operational achievements: record revenues and core profits at key operating companies (Indofood, MPIC businesses, PLDT), a credit rating upgrade, resilient recurring profit (second-highest ever), and growth in strategic areas (Maya fintech, PLP hydrogen-ready project, Philex Silangan). Offsetting these positives were notable headwinds: FX losses and currency depreciation reducing USD-reported contributions, a sharp drop in PLP core profit (-26%), cost pressures at Indofood (COGS +12% local currency), operational constraints at Padcal, regulatory uncertainty affecting Meralco, and an upcoming USD 350M bond refinancing. Overall, the highlights (broad strong operating performance, strategic investments, rating upgrade, and solid cash/free-cash-flow positions) materially outweigh the lowlights, though risks remain from FX, commodity/energy margins, and refinancing volatility.Company Guidance
S&P Credit Rating Upgrade
Standard & Poor's upgraded First Pacific's credit rating to BBB with a stable outlook; interest coverage ratio of 4.8x, blended interest cost ~4.5%, and average debt maturity of 3.4 years.
Stable Share Distribution and Yield
Interim distribution unchanged at HKD 0.03 per share with a shareholder yield around 5.4% despite slight declines in contributions and recurring profit.
Indofood Record Performance and Growth
Indofood/ICBP reported record net sales and core profit (core profit up 7% year-on-year). ICBP expects full-year sales growth up to 7% with an EBIT margin of 20%–22%. Overseas noodle sales rose ~31% in Q2 and CBP profit rose ~1% to IDR 5.4 trillion.
Metro Pacific (MPIC) Strong Results
MPIC delivered record-high core profit driven largely by Meralco and other businesses; MPIC accounts for ~26% of First Pacific's gross asset value and S&P's rating process increased the implied value of First Pacific's stake in MPIC (noted uplift in valuation).
PLDT Operational Strength and Free Cash Flow
PLDT reported its highest-ever first-half service revenues and EBITDA (EBITDA up ~1% to a record). The business achieved positive free cash flow and offers a strong dividend yield (~8%).
Maya (PLDT Fintech) Rapid Growth
Maya's contribution to PLDT profit increased from PHP 406 million to PHP 559 million (up ~38%), with strong growth in deposit balances and loans outstanding and continued momentum toward potential future IPO.
PacificLight (PLP) Revenue Increase and Strategic CAPEX
PLP revenues rose ~12% and construction has begun on a hydrogen-ready combined-cycle gas turbine plant expected commercial in mid-2029, with total project cost ~USD 1.1–1.2 billion and First Pacific equity share ~42% (~USD 150 million expected contribution).
Philex Mining Improvement and New Project Progress
Padcal's contribution to First Pacific earnings doubled due to higher metal prices despite lower volumes; Philex core profit rose ~56% and Silangan mine is on track for commercial mining toward end-2026 with higher copper and gold grades than Padcal.
Group Top-Line and Recurring Profit Resilience
Group turnover increased ~6% year-on-year; recurring profit was down only ~1% and remains the second-highest ever for First Pacific, demonstrating resilience despite currency headwinds.
DE:FPC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed