BRC Asia - UOB Kay Hian 2026-02-16: 1QFY26 Results A Positive Surprise

• BRC Asia (SGX:BEC) reported 1QFY26 revenue of S$444m (+27% y-o-y) and earnings of S$27.4m (+41% y-o-y), representing 27% and 28% of our FY26 forecasts respectively. Top-line growth is largely attributed to stronger project offtakes coming from Changi Terminal 5 (T5) in 1QFY26.
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Orderbook continues its strong growth momentum

• BRC Asia’s orderbook continues its strong growth momentum to S$2.2b (+16% q-o-q), supported by major projects including the Changi Airport T5 substructure. Although the orderbook runs over five years, most of the work will be completed within the first three, enhancing earnings visibility, delivering cost efficiencies, and strengthening procurement. This should help BRC Asia defend margins amid steel price volatility.
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Improving balance sheet position with net cash position.

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Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Previous report by UOB:
2025-12-05 BRC Asia - Strong FY25 Earnings Supported By Construction Upcycle.

Price targets by other brokers at BRC Asia Target Prices.

Listing of research reports at BRC Asia Analyst Reports.

Relevant links:
BRC Asia Share Price History,
BRC Asia Announcements,
BRC Asia Dividend Payout Dates & Corporate Actions,
BRC Asia News