บทวิเคราะห์ (Research)

EGCO : Earnings result - 3Q profit beat estimate, but remain cautious EGCO reported stronger-than-expected 3Q24 net profit of Bt2.46b, driven by higher-than-expected equity income, net interest income (favorable FX trends, offset interest expense), and net tax income (deferred tax liabilities). We slashed FY24F earnings after adjusting for actual 9M24 FX impact and higher SG&A costs. Our FY25F/26F earnings are intact. We maintain a 'Trading Buy' rating with a revised TP of Bt128 excluding the new PSA from QPL.