Golden Agri-Resources posts US$162 million third-quarter profit
The palm oil company attributed the quarterly increase to higher plantation production and investment income, while drought slowed replanting.
Golden Agri-Resources reported US$162 million in net profit for the quarter ending Sep 30, 2026, up 32 per cent from the preceding quarter’s US$123 million. In its Nov 12 business update, the company attributed the increase mainly to greater plantation output and investment income.
Quarterly revenue reached US$3.5 billion, a 3 per cent increase from Q2. Across January to September, revenue rose 6 per cent year on year to US$10.1 billion, while net profit increased 16 per cent to US$330 million from US$284 million.
GAR said stronger crude palm oil prices supported revenue growth. FOB Belawan crude palm oil averaged US$1,192 a tonne over the nine-month period, against US$1,094 a year earlier. Its upstream palm product output reached 808,000 tonnes in Q3, rising 12 per cent from 724,000 tonnes in Q2.
Nine-month production increased to 2.1 million tonnes from two million tonnes. The company cited a recovery in fresh fruit bunch production during Q3, better oil extraction rates and increased purchases of fruit bunches from third parties. Quarterly gross profit climbed 15 per cent to US$669 million, while earnings before interest, taxes, depreciation and amortisation rose 32 per cent to US$414 million.
El Nino-related drought has slowed replanting in recent months, GAR said. It is coordinating with relevant parties on fire prevention, monitoring and management around its plantations, but does not expect a material operational or financial impact from the situation. The company expects El Nino conditions to affect yields in 2027.
