Tüpraş Raises 2026 Refining-Margin Outlook After Strong Quarter
Third-quarter profit and revenue exceeded market expectations as the Turkish refiner lifted its full-year net refining margin forecast.
Key takeaways
- Third-quarter revenue reached 474.4 billion lira, above the 430.9 billion-lira market expectation.
- Net profit was 68.7 billion lira in the third quarter, up 335% year over year.
- Tüpraş raised its 2026 net refining margin forecast to $20-$22 a barrel.
- The company reported nine-month net profit of 121.30 billion lira, up 328%.
Tüpraş reported third-quarter revenue of 474.4 billion lira, above the 430.9 billion-lira market expectation, Bloomberg HT reported. Net profit rose 335% year over year to 68.7 billion lira, also exceeding the 60.4 billion-lira forecast.
The company’s third-quarter EBITDA increased 245% to 88.7 billion lira. Its net refining margin rose to $36.3 a barrel from $21.4 in the second quarter; Bloomberg HT linked the increase to higher energy prices.
Tüpraş raised its 2026 net refining margin forecast to $20-$22 a barrel, from a previous range of $13-$15. It kept its sales outlook at 30 million tons and targets production of 29 million tons, average capacity use of 95%-100%, and about $700 million in capital spending.
For the first nine months, revenue reached 1 trillion 174 billion lira, up 51%, while net profit climbed 328% to 121.30 billion lira, according to Borsa Gündem. The outlet also reported nine-month EBITDA of 163.95 billion lira, a 176% increase.
Tüpraş shares traded at 337.5 lira, up 1.73% from the previous close, as of 15:09 UTC on Nov. 6.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
