SIA Engineering - UOB Kay Hian 2026-02-20: Steady 3QFY26 Earnings Despite Gestation Costs For Subang Expansion

• SIA Engineering (SGX:S59)’s 3QFY26 reported net profit of S$41.9m (+9.7% y-o-y) came in broadly in line with our expectations, with 9MFY26 earnings forming 73% of our full-year forecast.
• - Read this at SGinvestors.io -

3QFY26 results broadly in line.

• Operating profit rose 27.7% y-o-y to S$6.0m in 3QFY26, despite:
  1. sizeable gestation costs incurred related to SIA Engineering’s expansion projects (including the establishment of two hangars at the Subang Airport of Malaysia), and
  2. - Read this at SGinvestors.io -
• While SIA Engineering does not disclose the exact amount related to these non-recurring expense items, our best guess is that SIA Engineering’s quarterly operating profit run rate may be in the range of low-teens without these non-recurring expenses.

Profit from JVs and associates rose 20.5% y-o-y to S$38.8m.

• Read more at SGinvestors.io.

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:
2025-11-06 SIA Engineering - 1HFY26 Earnings Uplift From Supply Chain Improvement To Offset Gestation Cost Pressures.

Price targets by 2 other brokers at SIA Engineering Target Prices.

Listing of research reports at SIA Engineering Analyst Reports.

Relevant links:
SIA Engineering Share Price History,
SIA Engineering Announcements,
SIA Engineering Dividend Payout Dates & Corporate Actions,
SIA Engineering News