Top Glove announced expectations to return to profitability in the second quarter of FY2026, citing stabilizing Average Selling Prices (ASP) and improved cost control. This positive outlook propelled its share price up by 3.1%.
Top Glove, the world's largest glove manufacturer, issued positive earnings guidance to investors today. The company's management stated that due to the normalization of global glove inventory and stable raw material (latex) prices, they expect to achieve net profitability in the second financial quarter ending February 28, 2026, ending several consecutive quarters of losses. This news was warmly received by the market, with Top Glove shares closing at RM1.00, up 3 sen. Although the glove sector still faces overcapacity challenges, Top Glove's efforts to optimize production lines and cut operational costs are beginning to show results. Analysts believe the stock could see further rebound if ASP continues its moderate upward trend.
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