JG Summit Holdings Inc. reported a 19-percent increase in reported net income in the first quarter (Q1) of 2026, driven by a sharp reduction in losses from its discontinued petrochemical business and sustained growth across its core operating units.
In a disclosure on Wednesday, JG Summit said reported net income reached P5.2 billion despite foreign exchange losses and higher financing costs.
JG Summit President and CEO Lance Gokongwei said the group continued to deliver steady operational execution despite mounting geopolitical and macroeconomic challenges.
“Our first-quarter results reflect steady execution across our portfolio, with 7-percent revenue growth and a 9-percent increase in operating profit — a combination that demonstrates the underlying efficiency of our business,” Gokongwei said.
He added that rising fuel costs and peso depreciation were creating pressure on margins and consumer purchasing power.
“We are not immune to the headwinds facing our portfolio and the broader economy,” he said. “What we can control, we are managing closely — implementing austerity measures to drive cost discipline, adjusting prices in a measured manner, maintaining balance sheet strength and keeping operational focus sharp,” Gokongwei said.
Core net income after taxes, however, declined 8 percent year on year to P6.9 billion due to higher parent-level interest expenses from debt absorbed from its discontinued petrochemical operations, a larger minority share in Robinsons Land Corp.’s real estate investment trust and weaker sugar prices in its commodities segment.
Net income from continuing operations dropped 27 percent to P5.5 billion after accounting for forex translation losses on dollar-denominated debt following the peso’s depreciation during the quarter.
Meanwhile, consolidated revenues rose 7 percent to P99.9 billion from P93.3 billion a year earlier, while operating profits increased 9 percent to P17.1 billion.
JG Summit said its financial position remained solid, with debt-to-equity and net debt-to-equity ratios at 0.73 times and 0.55 times, respectively.
The company also declared a cash dividend of P0.45 per share, 7-percent higher than last year’s payout.
On Wednesday, JG Summit’s share price dropped 90 centavos to close at P25.50 each.
