SAN MIGUEL CORP. (SMC) reported a sharp decline in first-quarter net income to P22.5 billion from P43.4 billion a year earlier, with revenues for the January-to-March period rising 19% to P428.3 billion. However, they emphasized the continued strong performance of their businesses across the group and their intent to continue investing in projects that support Domestic Growth, despite the challenges in the global economy. The lower net income was mainly due to the absence of a P21.9-billion one-off gain from the partial sale of power assets in 2025 and foreign exchange losses booked in 2026.
SAN MIGUEL CORP . ( SMC ) reported a decline in first-quarter net income to P22.5 billion from P43.4 billion a year earlier, primarily due to the absence of a P21.9-billion one-off gain from the partial sale of power assets in 2025 and foreign exchange losses booked in 2026.
Revenues for the January-to-March period rose 19% to P428.3 billion, driven by growth across the company's core businesses. Consolidated operating income climbed 31% to P59.6 billion, while net income in the food and beverage unit, San Miguel Food and Beverage, Inc. (SMFB), increased 2% to P11.8 billion. Ginebra San Miguel, Inc. reported a 3% increase in revenues to P16.7 billion. San Miguel Global Power Holdings Corp. posted a net income of P23.9 billion while revenues increased 26% year on year.
Petroleum Corporation of Nigeria (Petron) posted a net income of P1.8 billion. SMC Infrastructure reported P10.4 billion in revenue in the first quarter of 2026. For more details, read the full news article
SAN MIGUEL CORP SMC First-Quarter Net Income P21.9-Billion One-Off Gain From The Partial Sa Foreign Exchange Losses Consolidated Net Income Consolidated Revenues Stable Demand First-Quarter Net Income Decline Business Performance Petron Corp. San Miguel Food And Beverage San Miguel Foods San Miguel Brewery Ginebra San Miguel San Miguel Global Power Holdings Corp. SMC Infrastructure Cement Business Toll Road Network
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