{
  "id": 16563492,
  "title": "Press Metal's Q3 core earnings seen hitting RM650mil",
  "url": "https://urgent.news/2026/10/26/press-metals-q3-core-earnings-seen-hitting-rm650mil",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-26T04:11:21.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/10/1563743/press-metals-q3-core-earnings-seen-hitting-rm650mil"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: Analysts from Hong Leong Investment Bank predict Press Metal Aluminium Holdings will generate between RM600 million and RM650 million in core earnings for Q3 FY26, representing a 10-17% decrease from the previous quarter but a 1-9% gain compared to the same period last year. This quarter's earnings would account for 75-77% of the company's full-year forecast, amounting to between RM1.926 billion and RM1.976 billion. The decline in earnings is attributed to lower spot LME aluminium prices and higher alumina prices. The analysts believe the worst of the aluminium supply crunch is over, with a surplus expected in 2027 as smelter operations resume in the Gulf region and exports increase from China and Indonesia. Alumina prices have risen to US$370 per tonne due to a recovery in demand from the Middle East, and new refineries in Indonesia could further boost demand. However, carbon anode prices have surged to a multi-year high, driving down smelting margins in the short term. Hong Leong Investment Bank has lowered its earnings forecasts for FY26, FY27, and FY28 by 2%, 10%, and 6% respectively, while maintaining a Hold rating and reducing the target price to RM7.44 from RM8.22. Despite the more favorable outlook, the analysts acknowledge the changing external environment and the improved risk-reward profile for the company at current aluminium prices.",
  "summary": "KUALA LUMPUR: Press Metal Aluminium Holdings Bhd is expected to record core earnings of between RM600 million and RM650 million in the third quarter of financial year 2026 (Q3 FY26), Hong Leong Investment Bank Bhd (HLIB) said.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}