Century Pacific Food (CNPF) Q1 2026 earnings summary

Executive summary

• 1Q26 revenues grew 15% year-over-year to PHP 23.0B, driven by resilient branded segment and strong OEM recovery.

• Net income increased 10% year-over-year to PHP 2.1B, despite higher input costs and taxes.

• Branded segment posted 11% revenue growth, led by essentials and value-for-money offerings; OEM surged 32% from a low base.

• Branded segment comprised 78–80% of total revenues.

• Gross margin softened by 100bps to 25.1% due to input cost pressures, partially offset by forex gains and disciplined spending.

Financial highlights

• Operating income rose 17% year-over-year to PHP 2.7B; EBITDA up 17% to PHP 3.3B.

• Gross profit margin declined to 25.1% from 26.2% year-over-year.

• Earnings per share increased 10% to PHP 0.59.

• Opex to sales ratio improved by 10bps to 14.4%.

• Cash and cash equivalents stood at PHP 2.9B as of March 31, 2026.

Outlook and guidance

• Double-digit growth targeted for 2026, balancing affordability and cost pressures amid uncertainty.

• Price increases planned to cushion rising input and distribution costs.

• Export business to serve as a natural hedge against forex exposure.

• CAPEX guidance of ~PHP 8-9B, funded by internal cash flow and moderate debt increase.

• Outlook subject to variability due to ongoing Middle East crisis.

• Management expects sustained growth in both branded and export segments, with cash earmarked for working capital and CAPEX.