Thai Oil - 3Q24E Earnings to Turn to a Loss; Revise Down GRM/Earnings
We expect the 3Q24E earnings to turn to a loss, primarily due to sustained low gross refining margins (GRM) and stock losses.
360 Views
Thai Oil - Weak 2Q24 Core Profit, but NP Cushioned by a Stock Gain and an Extra Gain
The stock price is exposed to limited downside risk and has already priced in the weak GRM and core profit in 2Q24 to a certain degree.
304 Views
Thai Oil - Weak 2Q24E Core Profit but Cushioned by Stock Gains and Extra Gains
The stock price is exposed to limited downside risk and already priced in the weak GRM and core profit in 2Q24E to a certain degree.
178 Views
Thai Oil -Upbeat 1Q24 Earnings; CFP Project to Drive LT Earnings
Meanwhile, the commercial commencement of the Clean Fuel Project (CFP) in 2025E, which will generate an incremental GRM, should reaffirm our view...
368 Views
Thai Oil - Strong 1Q24E Earnings; Good LT Earnings Momentum
We believe the firm will be able to achieve our 2024E NP estimate, with the potential normalization of the GRM to be offset by a lower crude...
152 Views