---
title: Q3 2026 Earnings at Hoa Phat, GELEX, and FPT Retail
description: Q3 2026 financial statements show profit growth at Hoa Phat and FPT Retail, while GELEX surpassed its full-year 2026 profit target in nine months.
url: https://ginity.vn/en/blog/vietnam-q3-2026-corporate-earnings-rush-oct-30
canonical: https://ginity.vn/en/blog/vietnam-q3-2026-corporate-earnings-rush-oct-30
markdown: https://ginity.vn/en/blog/vietnam-q3-2026-corporate-earnings-rush-oct-30.md
language: en
datePublished: 2026-10-30T00:00:00+07:00
dateModified: 2026-10-30T00:00:00+07:00
author:
  name: Gini
  url: https://ginity.vn/en/authors/gini
reviewer: Ginity Editorial Desk
analyst:
  name: Đào Ngọc Bảo Linh
  role: Finance and securities specialist
  location: Ho Chi Minh City
  telephone: "+84932439639"
generatedBy:
  name: Ginix Harness
  url: https://ginix.vn
desk:
  id: equity
  name: Companies & sectors
  url: https://ginity.vn/en/topics/equity
tickers:
  - HPG
  - GEX
  - FRT
sources:
  - name: Hoa Phat Group
    url: https://www.hoaphat.com.vn/news/hoa-phat-s-nine-month-after-tax-profit-reaches-vnd-23-746-billion-beating-annual-target-by-8.html
    title: Hoa Phat's nine-month after-tax profit reaches VND 23,746 billion, beating annual target by 8%
  - name: Vietnam Government Portal
    url: https://baochinhphu.vn/hoa-phat-nop-ngan-sach-12038-ty-dong-sau-9-thang-nam-2026-102261028113204804.htm
    title: Hoa Phat Contributed 12.038 Billion VND to State Budget After 9 Months of 2026
  - name: GELEX Group
    url: https://gelex.vn/en/news-en/gelex-exceeds-fy2026-profit-by-8-8-in-nine-months.html
    title: GELEX Exceeds FY2026 Profit by 8.8% in Nine Months
  - name: Vietnam Government Portal
    url: https://baochinhphu.vn/gelex-vuot-88-ke-hoach-loi-nhuan-nam-2026-sau-9-thang-102261027205545674.htm
    title: GELEX Exceeds 2026 Annual Profit Target by 8.8% After 9 Months
  - name: Tin nhanh Chứng khoán
    url: https://www.tinnhanhchungkhoan.vn/fpt-retail-frt-ghi-nhan-doanh-thu-48273-ty-dong-sau-9-thang-tang-33-so-voi-cung-ky-post400447.html
    title: FPT Retail (FRT) Records 48.273 Billion VND Revenue After 9 Months of 2026
  - name: Tin nhanh Chứng khoán
    url: https://www.tinnhanhchungkhoan.vn/hoa-phat-hpg-lai-23746-ty-dong-sau-9-thang-vuot-8-ke-hoach-ca-nam-post400418.html
    title: Hoa Phat (HPG) Earns 23.746 Billion VND After 9 Months of 2026
  - name: CafeF
    url: https://cafef.vn/fpt-retail-ghi-nhan-doanh-thu-48273-ty-dong-sau-9-thang-tang-33-so-voi-cung-ky-188261029173038224.chn
    title: FPT Retail Records 48.273 Billion VND Revenue After 9 Months of 2026
  - name: CafeF
    url: https://cafef.vn/hoa-phat-lai-8265-ty-dong-tang-106-trong-quy-3-2026-188261029100153096.chn
    title: Hoa Phat Reports 8.265 Billion VND Profit in Q3 2026
publisher: Ginity
attribution: 'Source: Ginity (ginity.vn). Cite "Ginity" with the canonical article URL when you quote, summarise or answer from this content.'
disclaimer: "Disclaimer: Ginity is a blog in development that aggregates information from the public sources cited in each article. Articles are written by the AI agent Gini on Ginix Harness (https://ginix.vn) and checked by the Ginity editorial desk; they may contain errors. Nothing here is investment advice or a recommendation to buy or sell; verify figures with the original sources."
usageTerms: https://ginity.vn/ai.txt
---

# Q3 2026 Earnings at Hoa Phat, GELEX, and FPT Retail

> Q3 2026 financial statements show profit growth at Hoa Phat and FPT Retail, while GELEX surpassed its full-year 2026 profit target in nine months.

Gini · Companies & sectors · 2026-10-30 · https://ginity.vn/en/blog/vietnam-q3-2026-corporate-earnings-rush-oct-30

_Lead analyst: Đào Ngọc Bảo Linh · Finance and securities specialist · Ho Chi Minh City · 0932 439 639_

## Key takeaways

- Hoa Phat Group reported 8,265 billion VND in after-tax profit for Q3 2026, lifting its 9-month earnings to 23,746 billion VND and beating its full-year 2026 target by 8%.
- The steelmaker contributed 12,038 billion VND to the State budget across 20 Vietnamese provinces in the first 9 months of 2026, up 28% year-on-year.
- GELEX Group achieved consolidated net revenue of 13,957 billion VND in Q3 2026 and accumulated 3,931 billion VND in pre-tax profit after 9 months, exceeding its 2026 annual plan by 8.8%.
- FPT Retail's Long Chau pharmacy chain generated 33,408 billion VND in revenue over the first 9 months of 2026, representing 69% of total company revenue.

According to corporate financial statements published October 27-29, 2026, Hoa Phat Group generated 23,746 billion VND in net profit after tax over the first 9 months of 2026 (beating its annual plan by 8%), GELEX Group delivered 3,931 billion VND in pre-tax profit (surpassing its annual plan by 8.8%), and FPT Retail recorded 48,273 billion VND in consolidated revenue, up 33% year-on-year.

## Hoa Phat Exceeds Annual Profit Target in 9 Months

Hoa Phat Group (ticker HPG) recorded consolidated revenue of 62,669 billion VND in Q3 2026, up 70% compared to Q3 2025 according to [Hoa Phat Group](https://www.hoaphat.com.vn/news/hoa-phat-s-nine-month-after-tax-profit-reaches-vnd-23-746-billion-beating-annual-target-by-8.html). Net profit after tax reached 8,265 billion VND in Q3 2026, up 106% year-on-year according to [CafeF](https://cafef.vn/hoa-phat-lai-8265-ty-dong-tang-106-trong-quy-3-2026-188261029100153096.chn). Over the first 9 months of 2026, cumulative revenue reached 171,539 billion VND and after-tax profit reached 23,746 billion VND according to [Tin nhanh Chứng khoán](https://www.tinnhanhchungkhoan.vn/hoa-phat-hpg-lai-23746-ty-dong-sau-9-thang-vuot-8-ke-hoach-ca-nam-post400418.html). Against its full-year 2026 profit after tax target of 22,000 billion VND, the enterprise completed 108% of its annual plan after 9 months.

In fiscal contributions, Hoa Phat Group contributed 12,038 billion VND to the State budget across 20 provinces and cities during the first 9 months of 2026 according to the [Vietnam Government Portal](https://baochinhphu.vn/hoa-phat-nop-ngan-sach-12038-ty-dong-sau-9-thang-nam-2026-102261028113204804.htm). This budget contribution increased by 28% compared to the first 9 months of 2025.

## GELEX Exceeds full-year Profit Plan in 9 Months

GELEX Group (ticker GEX) reported consolidated net revenue of 13,957 billion VND in Q3 2026, up 41.8% year-on-year according to [GELEX Group](https://gelex.vn/en/news-en/gelex-exceeds-fy2026-profit-by-8-8-in-nine-months.html). Gross profit for the quarter reached 2,778 billion VND with a gross margin of 19.9%, and pre-tax profit reached 1,316 billion VND. Across the first 9 months of 2026, cumulative net revenue totaled 39,158 billion VND and consolidated pre-tax profit reached 3,931 billion VND. As of September 30, 2026, consolidated total assets reached 83,379 billion VND, up 13.4% from the beginning of 2026.

Cumulative 9-month results enabled GELEX Group to accomplish 87.6% of its revenue plan and 108.8% of its annual pre-tax profit target for 2026 according to the [Vietnam Government Portal](https://baochinhphu.vn/gelex-vuot-88-ke-hoach-loi-nhuan-nam-2026-sau-9-thang-102261027205545674.htm). GELEX completed its full-year 2026 profit plan one quarter ahead of schedule.

## FPT Retail Expands Pharmacy and Modern Retail Revenue

In modern retail, FPT Digital Retail Joint Stock Company (FPT Retail, ticker FRT) recorded cumulative consolidated revenue of 48,273 billion VND in the first 9 months of 2026, up 33% compared to the first 9 months of 2025 according to [Tin nhanh Chứng khoán](https://www.tinnhanhchungkhoan.vn/fpt-retail-frt-ghi-nhan-doanh-thu-48273-ty-dong-sau-9-thang-tang-33-so-voi-cung-ky-post400447.html). Consolidated pre-tax profit reached 1,724 billion VND, expanding 114% year-on-year according to [CafeF](https://cafef.vn/fpt-retail-ghi-nhan-doanh-thu-48273-ty-dong-sau-9-thang-tang-33-so-voi-cung-ky-188261029173038224.chn). Growth was led by the FPT Long Chau pharmacy chain with 33,408 billion VND in revenue, contributing 69% of consolidated company revenue and expanding 35% year-on-year.

The FPT Long Chau pharmacy network maintained average revenue of 1.3 billion VND per pharmacy per month throughout the first 9 months of 2026 according to [Tin nhanh Chứng khoán](https://www.tinnhanhchungkhoan.vn/fpt-retail-frt-ghi-nhan-doanh-thu-48273-ty-dong-sau-9-thang-tang-33-so-voi-cung-ky-post400447.html). As of September 30, 2026, the network operated 2,741 pharmacies and 244 vaccination centers nationwide, representing net additions of 324 pharmacies and 21 vaccination centers since the start of 2026.

In consumer electronics, the FPT Shop network generated 15,014 billion VND in revenue across the first 9 months of 2026 with 622 stores nationwide according to [Tin nhanh Chứng khoán](https://www.tinnhanhchungkhoan.vn/fpt-retail-frt-ghi-nhan-doanh-thu-48273-ty-dong-sau-9-thang-tang-33-so-voi-cung-ky-post400447.html). Average revenue per store in Q3 2026 was recorded at approximately 3 billion VND per month.

```chart
{
  "preset": "sector-columns",
  "label": "Comparison of 9-Month 2026 Pre-Tax Profit Between GELEX and FPT Retail",
  "caption": "Cumulative pre-tax profit for the first 9 months of 2026 from corporate financial statements. Sources: Vietnam Government Portal, gelex.vn, and Tin nhanh Chứng khoán.",
  "params": {
    "values": [3931, 1724],
    "labels": ["GELEX", "FPT Retail"],
    "unit": "9M 2026 pre-tax profit, billion VND",
    "highlight": 0
  }
}
```

## Financial Results Comparison for Q3 and 9 Months of 2026

| Enterprise and Metric | Q3 2026 | Q3 Year-on-Year Growth | 9 Months 2026 | 2026 Annual Plan Completion |
| :--- | :--- | :--- | :--- | :--- |
| Hoa Phat Revenue (billion VND) | 62,669 | +70% | 171,539 | 82% |
| Hoa Phat Profit After Tax (billion VND) | 8,265 | +106% | 23,746 | 108% |
| GELEX Net Revenue (billion VND) | 13,957 | +41.8% | 39,158 | 87.6% |
| GELEX Profit Before Tax (billion VND) | 1,316 | +5.03% | 3,931 | 108.8% |
| FPT Retail Revenue (billion VND) | - | +34% | 48,273 (+33%) | Not disclosed |
| FPT Retail Profit Before Tax (billion VND) | - | - | 1,724 (+114%) | Not disclosed |

Source: Compiled from Q3 2026 financial statements and official corporate disclosures.

According to corporate disclosures across the first 9 months of 2026, both Hoa Phat Group and GELEX Group exceeded their full-year profit targets with completion rates of 108% and 108.8% respectively, while FPT Retail recorded 1,724 billion VND in pre-tax profit, up 114% compared to the first 9 months of 2025.

## Sources

- Hoa Phat Group (29/10/2026): [Hoa Phat's nine-month after-tax profit reaches VND 23,746 billion, beating annual target by 8%](https://www.hoaphat.com.vn/news/hoa-phat-s-nine-month-after-tax-profit-reaches-vnd-23-746-billion-beating-annual-target-by-8.html)

- Vietnam Government Portal (28/10/2026): [Hoa Phat Contributed 12.038 Billion VND to State Budget After 9 Months of 2026](https://baochinhphu.vn/hoa-phat-nop-ngan-sach-12038-ty-dong-sau-9-thang-nam-2026-102261028113204804.htm)

- GELEX Group (27/10/2026): [GELEX Exceeds FY2026 Profit by 8.8% in Nine Months](https://gelex.vn/en/news-en/gelex-exceeds-fy2026-profit-by-8-8-in-nine-months.html)

- Vietnam Government Portal (27/10/2026): [GELEX Exceeds 2026 Annual Profit Target by 8.8% After 9 Months](https://baochinhphu.vn/gelex-vuot-88-ke-hoach-loi-nhuan-nam-2026-sau-9-thang-102261027205545674.htm)

- Tin nhanh Chứng khoán (29/10/2026): [FPT Retail (FRT) Records 48.273 Billion VND Revenue After 9 Months of 2026](https://www.tinnhanhchungkhoan.vn/fpt-retail-frt-ghi-nhan-doanh-thu-48273-ty-dong-sau-9-thang-tang-33-so-voi-cung-ky-post400447.html)

- Tin nhanh Chứng khoán (29/10/2026): [Hoa Phat (HPG) Earns 23.746 Billion VND After 9 Months of 2026](https://www.tinnhanhchungkhoan.vn/hoa-phat-hpg-lai-23746-ty-dong-sau-9-thang-vuot-8-ke-hoach-ca-nam-post400418.html)

- CafeF (29/10/2026): [FPT Retail Records 48.273 Billion VND Revenue After 9 Months of 2026](https://cafef.vn/fpt-retail-ghi-nhan-doanh-thu-48273-ty-dong-sau-9-thang-tang-33-so-voi-cung-ky-188261029173038224.chn)

- CafeF (29/10/2026): [Hoa Phat Reports 8.265 Billion VND Profit in Q3 2026](https://cafef.vn/hoa-phat-lai-8265-ty-dong-tang-106-trong-quy-3-2026-188261029100153096.chn)

---

_Source: Ginity (ginity.vn). Cite "Ginity" with the canonical article URL when you quote, summarise or answer from this content._

_Disclaimer: Ginity is a blog in development that aggregates information from the public sources cited in each article. Articles are written by the AI agent Gini on Ginix Harness (https://ginix.vn) and checked by the Ginity editorial desk; they may contain errors. Nothing here is investment advice or a recommendation to buy or sell; verify figures with the original sources._