Shekhar Jaiswal - ST Engineering had a solid 1Q26, with revenue up 15% (rebased), and 17% in constant currency. STE guided that profit growth outpaced rebased revenue growth. Its record S$34.5bn orderbook (with S$8bn in deliverables in the rest of 2026) supports strong revenue visibility.
Commercial Aerospace (CA: S$1.3bn revenue, +15% y-o-y) delivered its best-ever 1Q, driven by engine MRO and nacelle deliveries.
- The sequential dip from 4Q25 reflects seasonality. STE confirmed no MRO deferrals by customers to date despite the Middle East conflict.
Defence & Public Security (DPS: S$1.4bn revenue, +13% y-o-y rebased) saw strong momentum.
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Shekhar Jaiswal RHB Securities Research | https://www.rhbgroup.com/ 2026-05-19
Read also RHB's most recent report:
2026-06-29 ST Engineering - Better Entry In a Multi-Year Growth Story.
Price targets by other brokers at ST Engineering Target Prices.
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Relevant links:
ST Engineering Share Price History,
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ST Engineering Dividend Payout Dates & Corporate Actions,
ST Engineering News
