BCH's EPS Misses Again, Raising Questions Ahead of Feb 27 Report

Bangkok Chain Hospital PCL (BCH) reported mixed earnings performance in recent quarters, with the most recent data showing an expected earnings per share (EPS) of $0.14 for the December 2025 reporting period, to be released on February 27, 2026. The forecast marks a 17.65% decline from the actual EPS of 0.14 in the third quarter of 2025, which had missed expectations of 0.17 by the same margin. Similarly, revenue is projected to remain unannounced for the December period but is expected to fall short of the 3.05 billion baht forecast.

The most recent earnings surprise occurred in the September 2025 quarter, where BCH recorded an EPS of 0.14, significantly below the forecast of 0.17. This resulted in a revenue miss of 6.48%, as actual revenue came in at 3.03 billion baht versus a projected 3.24 billion baht. The earnings underperformance contributed to a 3.60% price drop in the days following the report.

In contrast, earnings surprises have historically varied. For the June 2025 quarter, BCH exceeded expectations by 14.29% in EPS, achieving 0.16 versus a forecast of 0.14, while matching revenue expectations of 3.02 billion baht. However, this was followed by a 6.38% price decline.

Earnings data over the past 12 months indicate a general trend of modest underperformance relative to forecasts. The most recent full-year data from December 2024 showed an EPS of 0.09, with no forecast provided. Historical data also reveals a consistent pattern of revenue projections aligning closely with actual outcomes, yet EPS forecasts have often proven optimistic.

Looking ahead, analysts project earnings per share of 0.14 for the December 2025 quarter, based on the current forecast. The projected revenue for the same period is 3.05 billion baht. These expectations represent a continuation of the company’s recent earnings trajectory, with a notable emphasis on the widening gap between actual performance and forecasted outcomes.

Given the earnings history and the most recent price activity—falling 1.06% over the last seven days—BCH’s performance appears to reflect investor concerns over earnings reliability and operational sustainability. The market will closely monitor the February 2026 earnings report for signs of stabilization or reversal in the current earnings trend.