Eterna Plc reported a consolidated pre-tax profit of N10.28 billion for the 9 months ended September 30, 2026, representing a rise of 635.80% from N1.40 billion recorded within the corresponding interval of 2025.
In the third quarter, pre-tax profit reached N2.61 billion, reversing the N198.43 million pre-tax loss recorded in Q3 2025.
The firm’s standalone Q3 pre-tax profit of N2.54 billion additionally exceeded its forecast of N1.18 billion by 115.97%, whereas profit after tax of N1.57 billion surpassed the projected N1.00 billion by 57.29%.
For the nine-month interval, consolidated income elevated by 71.75% to N365.56 billion from N212.84 billion, whereas profit after tax surged to N7.34 billion from N325.88 million.
The robust earnings efficiency was supported by substantial progress in gasoline income and improved gross profitability, regardless of increased administrative bills.
Key Highlights
- Revenue: N365.56 billion (Up 71.75% YoY from N212.84 billion).
- Gross profit: N23.33 billion (Up 134.79% YoY from N9.94 billion).
- Operating profit: N11.19 billion (Up 250.52% YoY from N3.19 billion).
- Earnings per share: N3.36 (Up 1,244.00% YoY from N0.25).
- Total borrowings: N46.75 billion (Down 32.55% from N69.31 billion in December 2025).
- Total property: N114.19 billion (Up 23.86% from N92.19 billion).
- Cash and financial institution balances: N15.35 billion (Up 223.17% from N4.75 billion).
- Shareholders’ fairness: N32.99 billion (Up 324.67% from N7.77 billion).
Driving the numbers
Eterna’s nine-month efficiency was largely pushed by a big enhance in gasoline income, which remained the group’s largest supply of revenue.
- Revenue from gasoline gross sales elevated by 91.19% to N339.92 billion from N177.79 billion within the corresponding interval of 2025, accounting for 92.99% of complete income.
- In distinction, lubricants income declined by 42.57% to N18.68 billion from N32.53 billion, contributing 5.11% of complete income.
- Revenue from different services and products elevated by 175.48% to N6.96 billion from N2.53 billion, representing 1.90% of complete income.
The figures point out that the group’s income enlargement was predominantly pushed by its gasoline enterprise, which greater than offset the decline in lubricants gross sales.
On the associated fee aspect, the price of gross sales elevated by 68.66% to N342.23 billion from N202.91 billion, slower than the expansion in income.
Consequently, gross profit rose by 134.79% to N23.33 billion, with gross profit margin enhancing to 6.38% from 4.67% within the corresponding interval of 2025.
However, working bills additionally elevated considerably.
- General and administrative bills rose by 68.01% to N12.15 billion from N7.23 billion, partly reflecting technical help service charges of N2.74 billion, which weren’t recorded within the corresponding interval of 2025.
- Repairs and upkeep bills additionally elevated to N1.83 billion from N1.07 billion, whereas licence charges rose to N974.22 million from N521.19 million.
- Despite the upper working prices, working profit expanded by 250.52% to N11.19 billion from N3.19 billion, reflecting the stronger gross profit contribution.
- On financing, finance prices declined barely by 1.67% to N1.93 billion from N1.96 billion, whereas finance revenue elevated to N1.08 billion from N12.25 million, supported by curiosity revenue on short-term financial institution deposits.
The group additionally recorded a internet international change lack of N66.06 million, in contrast with a achieve of N149.85 million within the corresponding interval of 2025.
The third-quarter outcomes have been equally robust, with consolidated income rising by 168.61% to N148.24 billion from N55.19 billion in Q3 2025.
The stability sheet
On the stability sheet, Eterna’s consolidated complete property elevated by 23.86% to N114.19 billion as of September 2026, from N92.19 billion in December 2025, largely pushed by increased inventories and money balances.
- Inventories rose by 18.98% to N68.98 billion from N57.98 billion, whereas money and financial institution balances elevated by 223.17% to N15.35 billion from N4.75 billion.
- Trade and different receivables declined by 16.40% to N10.77 billion from N12.88 billion.
- On the liabilities aspect, complete borrowings declined to N46.75 billion from N69.31 billion, whereas commerce and different payables elevated to N28.27 billion from N11.24 billion.
- Shareholders’ fairness expanded to N32.99 billion from N7.77 billion, supported by the issuance of latest shares amounting to N18.97 billion and earnings retained throughout the interval.
The money move assertion confirmed internet money generated from working actions of N22.89 billion for the 9 months, in contrast with a internet working money outflow of N20.10 billion reported for the complete 12 months ended December 2025.
The enchancment in working money technology, alongside lowered borrowings and better money balances, signifies a stronger liquidity place on the finish of September 2026.
Market response
Eterna Plc closed at N42.75 per share on Tuesday, November 3, 2026, unchanged from its earlier closing value on November 2.
- The inventory has gained 50.00% year-to-date from its opening value of N28.50 in the beginning of 2026.
- Month-to-date, the share value remained unchanged at N42.75, in contrast with its closing value on October 30, 2026.
- The inventory recorded a achieve of 9.90% on October 30, rising from N38.90 to N42.75, though the obtainable info doesn’t set up whether or not this motion was instantly associated to the earnings announcement.
Over the previous three months, Eterna’s share value has gained 29.60%, whereas its six-month return stood at 18.80%. However, the inventory declined by 7.07% over the previous 4 weeks.
