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Top Glove (SGX:BVA) reported 3QFY26 core net profit of RM125.5m (2QFY26: RM27.4m) and higher revenue of RM1.1b (+9% q-o-q). For 9MFY26, the core net profit of RM186m was above expectations, making up 113% and 117% of our and consensus full-year forecasts.
Operating parameters improved in 3QFY26.
- - Read this at SGinvestors.io -
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Utilisation rate for the quarter was around 86% based on the current effective capacity of approximately 68b pieces annually (2QFY26: 86%).
Sharp ASP hike from Iran war likely non-lasting.
- - Read this at SGinvestors.io -
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Top Glove’s costs of key raw materials (natural latex and acrylonitrile) have declined by 11-30% since May’s peak. To add on, our channel checks also revealed that China manufacturers’ ASPs have softened to US$22-23 for July-August shipments.
Volume sales to sustain at high levels in 4QFY26, allowing 30-40% y-o-y growth and exceeding pre-COVID-19 levels…
- 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/.
Jack Goh UOB Kay Hian Research | https://research.uobkayhian.com/ 2026-06-19
Previous report by UOB:
2026-05-13 Glove Sector - Frontloaded Optimism.
Price targets by 2 other brokers at Top Glove Target Prices.
Listing of research reports at Top Glove Analyst Reports.
Relevant links:
Top Glove Share Price History,
Top Glove Announcements,
Top Glove Dividend Payout Dates & Corporate Actions,
Top Glove News
