AboitizPower Q3 net income falls 26% on coal outages, yet nine-month profit climbs 13%

AboitizPower Corp. saw its third-quarter net income drop 26% to P7.8 billion from P10.6 billion in the same period last year, primarily due to reduced availability of its coal-fired power plants. The decline in operational uptime for its coal assets weighed on the quarter's results, leading to a drop in beneficial earnings before interest, taxes, depreciation, and amortization (EBITDA), which fell 8% to P20.4 billion from P22.2 billion. The downward trend was also evident in the sequential performance, with third-quarter EBITDA dipping 11% from the P23 billion recorded in the second quarter, while net income fell from P10.5 billion during that period. Year-to-Date Gains Offset Quarterly Dip Despite the third-quarter slump, the company's overall trajectory for the first nine months of 2026 remains positive. Net income for the period rose 13% to P26.2 billion, up from P23.3 billion a year earlier. Core net income followed a similar trend, increasing 11% to P25.5 billion, while beneficial EBITDA grew 13% to P63.7 billion.