Borsa Istanbul earnings season starts strong
The third-quarter 2026 earnings season on Borsa Istanbul began with several companies reporting profits above market expectations.
TAV Airports (TAVHL) posted a net profit of TL 9.087 billion, exceeding the market forecast of TL 7.27 billion by 25%. The company's net profit increased 52% year over year and 58% compared with the previous quarter. The insurance sector also maintained a strong performance, with Aksigorta (AKGRT) reporting net profit of TL 875 million, beating expectations by 12%. Its earnings rose 6% year over year and 17% quarter over quarter.
Ereğli Iron and Steel (EREGL) reported third-quarter net profit of TL 2.2 billion, surpassing the market estimate of TL 1.9 billion by 16%. Although the company's profit surged 239% compared with the same period last year, it declined 74% from the previous quarter. The initial financial results signal a recovery among non-financial companies, while expectations for stronger profitability in the banking sector are being pushed into subsequent quarters.
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