LT Group, Inc. (LTG), one of the major companies listed on the Philippine Stock Exchange, has announced its financial results for the first three months of 2026. According to their press release dated May 12, 2026, the company made a profit of PHP 7.49 billion during this period, which is 3% more than the PHP 7.24 billion they earned during the same time last year.

What Does LT Group Do?

Think of LT Group as a big basket that holds different types of businesses. Instead of doing just one thing, they own parts of several companies that do different things – like banking, making cigarettes, producing alcoholic drinks, building properties, and making beverages.

Where Did The Money Come From?

The company’s earnings came from different businesses they own:

• Philippine National Bank (PNB) – Their banking business contributed the most money at PHP 3.58 billion, which is 48% of the total profit. This is like when a piggy bank earns the most coins in the family.
• Fortune Tobacco (FTC) – The tobacco business added PHP 2.85 billion or 38% of the total.
• Tanduay Distillers – The liquor-making business contributed PHP 572 million or 8%.
• Eton Properties – The real estate business added PHP 154 million or 2%.
• Asia Brewery – The beverage business contributed PHP 98 million or 1%.
• Victorias Milling Company and Others – These added PHP 158 million (2%) and PHP 75 million (1%) respectively.

Sharing Profits With Owners

In February 2026, LT Group gave money back to its shareholders (the people who own pieces of the company). They paid out a total of PHP 3.25 billion in dividends. Each share received PHP 0.15 as regular dividends plus another PHP 0.15 as a special bonus dividend, totaling PHP 0.30 per share.

Company’s Debt Situation

As of March 31, 2026, the company had a debt-to-equity ratio of 3.00:1 when including the bank’s debt (banks naturally have more debt because they lend money), and only 0.09:1 when you don’t count the bank. The parent company also had PHP 2.08 billion in cash on hand.

Philippine National Bank Performance

PNB, the banking part of LT Group, earned PHP 6.37 billion in the first quarter of 2026, which is 5% higher than the PHP 6.09 billion from the same period in 2025.

The bank made more money from interest (PHP 17.29 billion, up 1%) because more people borrowed money. At the same time, what they paid in interest went down by 14% to PHP 3.83 billion, mainly because the cost of their bonds became cheaper. This meant their net interest income (the difference between what they earn and what they pay) grew to PHP 13.46 billion, up 6% from last year.

The bank also earned more from service fees – things like charges for bancassurance, deposits, and loans – which increased by 6% to PHP 1.51 billion.

However, the bank lost PHP 230 million from trading and investment activities in early 2026, a big change from the PHP 862 million gain they had in the same period last year. This happened because market conditions weren’t favorable.

On a positive note, other income jumped to PHP 1.94 billion from PHP 1.07 billion, mainly because they made more money selling foreclosed properties (ROPA sales).

The bank’s operating expenses increased slightly by 2% to PHP 8.53 billion as they spent more on miscellaneous expenses, depreciation, and occupancy costs due to increased business activities.

Fortune Tobacco Corporation Results

FTC reported a net income of PHP 2.86 billion for the first quarter of 2026, up 2% from PHP 2.81 billion in the same period last year. The increase came mainly from higher dividend income they received from PMFTC (Philip Morris Fortune Tobacco Corporation), a company in which FTC owns 49.6%.

The cigarette industry overall grew by 5% to 11.8 billion sticks in early 2026. However, PMFTC’s shipment volume decreased slightly by 4% to 5.4 billion sticks from 5.6 billion sticks. The company notes that actual sales remained stable when accounting for inventory changes.

In March 2026, PMFTC raised cigarette prices due to the continued excise tax increases under Republic Act 11346. The excise tax now stands at PHP 69.46 per 20-stick pack (up 5% from January 1, 2026). As a result, different cigarette brands now cost: Marlboro Red Titanium Edition at PHP 11 per stick, Marlboro Red at PHP 10, Marlboro Crafted and Fortune at PHP 9, and Chesterfield at PHP 8.

PMFTC is working to become a smoke-free company by educating adult nicotine users about tobacco harm and promoting awareness of smoke-free products through business partners.

Good news on the illegal cigarette front: government efforts against illicit trade have led to a decline in illegal cigarettes for the first time in six years, according to recent reports.

Tanduay Distillers Performance

Tanduay Distillers recorded a net income of PHP 575 million for the first quarter of 2026, up 9% from PHP 528 million in the same period last year. Net revenues reached PHP 7.37 billion, 3% higher than last year’s PHP 7.19 billion. This growth came from price increases that made up for selling less volume.

While the cost of making their products rose to PHP 6.09 billion from PHP 6.02 billion (due to higher freight costs), their gross profit margin actually improved to 17% from 16%, showing that the price increases worked well.

Operating expenses were higher at PHP 645 million compared to PHP 496 million last year, mainly due to more spending on advertising, promotions, and personnel costs.

Tanduay maintained strong market positions in Visayas (74.3% market share) and Mindanao (83.8% market share). Nationwide, their market share for distilled spirits grew to 40.6% from 39.1% in the same period last year.

Eton Properties Results

Eton Properties reported a net income of PHP 155 million for the first three months of 2026, higher than the PHP 144 million from last year. This improvement came from better margins in their leasing business, with both higher rental revenues and lower operating costs.

Leasing revenues increased by 1% to PHP 480 million, representing 82% of total revenues. Real estate sales grew by 6% to PHP 108 million, driven by continued sales of remaining units in the 68 Roces (Quezon City) and Eton City (Laguna) projects.

Operating expenses decreased slightly to PHP 196 million due to lower commissions and marketing expenses.

Eton’s leasing portfolio includes 259,800 square meters of space, with office space making up 189,100 square meters or 73% of the total.

Asia Brewery Performance

Asia Brewery’s net income was lower at PHP 98 million for the quarter ended March 31, 2026, down from PHP 178 million in the same period last year.

Revenues from the beverage segment were PHP 4.24 billion, 2% lower than last year, as revenues decreased for Cobra Energy Drinks and the packaging business. The cost of making their products increased by 4% to PHP 3.39 billion due to higher production costs for glass bottles. This caused the gross profit margin to decline to 20% from 24%.

Operating expenses decreased to PHP 667 million from PHP 737 million due to lower advertising expenses and management fees.

Despite the challenges, Cobra energy drink held the second-largest market share at 42% in the first quarter of 2026. Absolute and Summit bottled water brands together accounted for 18%, making them the third-largest local water brand.

About LT Group

LT Group, Inc. is registered with the Securities and Exchange Commission under registration number PW-343. The company has 10,821,388,889 common shares outstanding and is headquartered at the 11th Floor Unit 3, Bench Tower, 30th Street corner Rizal Drive, Crescent Park West 5, Bonifacio Global City, Taguig City.

This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.