Eterna’s 9M pre-tax profit surges 635.8% to N10.28 billion, beats Q3 forecast

Eterna Plc announced a staggering surge in pre-tax profits for the nine months ending September 30, 2026, with a remarkable 635.8% increase to N10.28 billion, surpassing analysts' expectations. The company's third-quarter pre-tax profit also exceeded forecasts, doubling to N2.61 billion from a loss of N198.43 million in the same period last year.

Eterna's standalone Q3 pre-tax profit of N2.54 billion was 115.97% higher than the projected N1.18 billion. Despite higher administrative costs, the group's revenue expanded by 71.75% to N365.56 billion, with fuel revenue playing a pivotal role in the financial performance. Operating expenses also grew, but revenue growth more than compensated for the cost increase, leading to a significant improvement in gross profit, which rose by 134.79% to N23.33 billion.

Eterna's total assets increased by 23.86% to N114.19 billion as of September 2026, driven by higher inventories and cash balances, and the company reported a net cash generation of N22.89 billion from operations, up from N20.10 billion in the previous year. The positive cash flow and reduced borrowings suggest a strengthened liquidity position.

Eterna's share price closed at N42.75 on November 3, 2026, marking a 29.60% increase over the past three months.