ASL Securities estimates the net profit of Thai Union Group, or TU, for the third quarter of 2026 at 1.3 billion baht, up 3% from the previous quarter but down 0.2% from a year earlier. Total revenue expanded to 35 billion baht, up 5.6% from the previous quarter and 3.6% from a year earlier. The main supporting factors came from the export high season, an average weaker baht at 33.39 baht per US dollar, down 1.9% from the previous quarter, and the processed food and pet food businesses, which were boosted by customers in Europe and the United States. Meanwhile, the SG&A expense ratio to sales held steady at 14.9%, close to the 15% level in 2026. On the pressure side, the gross profit margin fell to 20.3% from 21.4% in the previous quarter because tuna prices rose 17.3%. If results meet expectations, net profit for the first nine months of 2026 will account for 74% of the full-year estimate. TU will report its third-quarter 2026 results on November 2, 2026. The research team maintains a buy recommendation with a 2027 target price of 15.10 baht, based on a price-to-earnings ratio of 12.4 times, and expects a dividend yield of 6.1% in 2026, viewing TU as a top pick in the industrial food export sector.
Thai Union Group PCLASL Securities estimates TU's Q3 2026 net profit at 1.3 billion baht and maintains a buy rating with a 15.10 baht target price.
