Hoa Phat stock: Nine-month profit tops 2026 target by 8%

Hoa Phat Group reported a sharp improvement in third-quarter and nine-month results on October 29, 2026. According to MarketScreener, the company generated VND 171,539 billion in revenue and VND 23,746 billion in after-tax profit during the first nine months.

The result followed a strong third quarter. Revenue reached VND 62,669 billion, up 70 percent from the same period a year earlier, while after-tax profit rose 106 percent to VND 8,265 billion. For 2026, Hoa Phat has set revenue and after-tax profit targets of VND 210,000 billion and VND 22,000 billion, respectively.

Steel remains the main earnings driver

Steel manufacturing and trading continued to dominate the business. The segment contributed 97 percent of group revenue and 77 percent of profit in the first nine months, highlighting the importance of production volumes and steel pricing for the investment case.

Hoa Phat produced 10.7 million tonnes of crude steel in the period, an increase of 35 percent year over year. Sales of construction steel, high-quality wire rod, hot-rolled coil and billets reached 10.3 million tonnes, up 39 percent. Hot-rolled coil sales increased 59 percent to 5.47 million tonnes, accounting for more than half of the major steel-product sales mix.

Expansion adds a longer-term element

The company also reported progress on its Dung Quat Rail and Special Steel Plant. The project is more than 80 percent complete, has planned capacity of 700,000 tonnes per year and is expected to supply rail products from the second quarter of 2027. That timetable gives investors an additional growth element, although execution and future steel-market conditions remain important considerations.

Investors should also monitor demand, product prices and the financing needs associated with capacity expansion. Current market reports provide broader context for equity-market conditions.

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