ALLIANCE Select Foods International Inc. said it swung to a net loss in the first quarter of 2026 as revenues plunged due to an extended plant shutdown, weaker demand in key segments, and shipment delays.
In a disclosure on Thursday, the listed seafood company said consolidated net revenues fell by 54.5 percent to $8.93 million from a year earlier, resulting in an after-tax loss of $2.6 million during the quarter.
Alliance Select said the extension of its January plant shutdown to complete facility improvements, softness in its loins and co-packing businesses, and the deferment of some shipments to the second quarter were the main factors for the drop in revenues.
Further weighing earnings were higher plant operating costs, the sale of higher-cost inventories carried over from the previous quarter, and higher interest expenses, partly offset by lower general and administrative expenses and reduced freight and transportation costs.
“Our first-quarter results reflect the impact of operational and cost-related challenges during the period,” said Jeoffrey Yulo, president and CEO of Alliance Select.
“We are implementing measures to improve efficiency and cost management, and will continue to monitor developments closely as we work toward stabilizing performance,” he added.
The company said measures aimed at improving operational efficiency, managing costs, and aligning production levels with market demand were already underway.
Alliance Select said it expects gradual operational improvements in the coming quarters as these initiatives take effect, subject to prevailing market conditions.
The company is engaged in tuna processing and exports its products to more than 20 countries worldwide.
Alliance Select shares were steady at P0.345 each on Thursday.
