SPRC TB - Downbeat 4Q24 Earnings on Upbeat OPEX and Expense Base for Marketing Business
We have revised down our 2025-26E earnings forecasts by 25-27% to reflect higher OPEX and an increased expense base from the fuel marketing...
194 Views
Star Petroleum Refining - Expect 4Q24E Earnings Turnaround; Earnings on a Recovery Path
We expect the 4Q24E earnings to have turned around to profit, albeit with weaker than previously expected momentum due to stock losses and a flat...
137 Views
Star Petroleum Refining - 3Q24 Earnings Tuned to a Loss (Given Stock Losses, LCM)
3Q24 earnings turned to a loss (due to stock losses and LCM), but the loss was larger than expected due to higher-than-anticipated operating...
300 Views
Star Petroleum Refining - 3Q24E Earnings to Turn to a Loss Due to Stock Losses and LCM
We expect the 3Q24E performance to turn to a loss (but we maintain our 2024E net profit forecast), with refining margins to be lower YoY and a...
266 Views
Star Petroleum Refining - Negatives Priced In; Steady Core Earnings Growth
We initiate our coverage on SPRC with an Outperform rating and a 12M fair value (FV) of Bt7.26, based on a required return of 12.1%.
274 Views