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Formosa Petrochemical Q3 Profit Hits Record High with EPS of NT$2.76
Energy Minerals · Oil Refining/Marketing · economic_daily · 2026-10-12
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Formosa Petrochemical reported a record-breaking third quarter with a net profit of NT$26.29 billion, driven by strong refinery utilization and export margins.
What Happened
Financial Performance: Formosa Petrochemical posted a record-breaking third quarter with a net profit of NT$26.29 billion and an EPS of NT$2.76. For the first nine months of the year, the company achieved a cumulative net profit of NT$67.47 billion, marking a historical high for the period.
Refining Business: The refining segment saw a significant boost as crude oil arrivals stabilized, allowing capacity utilization to climb to 91.2%. Despite some inventory losses due to crude price fluctuations, the expansion of export margins drove strong profitability for the division.
Olefin Business: The olefin segment swung to a loss during the quarter, primarily due to falling naphtha prices causing inventory write-downs. Weak downstream petrochemical demand further compressed product spreads, offsetting the benefits of increased production after the completion of maintenance at the No. 3 plant.
Utility Operations: The utility division reported a 12.3% revenue increase, supported by higher summer electricity pricing and increased demand for power and steam. With fuel costs remaining stable, the segment contributed positively to the company's overall operating profit growth.