Becamex UDJ Q3 2026 Profit Surges 1,262% on UPCOM

Overview

Becamex UDJ (ticker UDJ, UPCOM) reported Q3/2026 pre-tax profit of VND 32 billion, up 1,262% from the same period last year, according to the company’s third-quarter financial statements released on 15 October. The result stands out among the day’s disclosures, which also included a 9% rise at Cấp thoát nước Lâm Đồng (LDW) and declines or losses at Thủy điện - Điện lực 3 (DRL), BIS and Viglacera Đông Triều (DTC).

Key Facts

• Becamex UDJ (UDJ): Q3/2026 pre-tax profit of VND 32 billion, up 1,262% year-over-year.
• UDJ 9M/2026 pre-tax profit: VND 26 billion, up 1,296% year-over-year.
• Cấp thoát nước Lâm Đồng (LDW): Q3/2026 pre-tax profit of VND 30 billion, up 9% year-over-year; 9M profit VND 80 billion, flat versus the same period.
• Thủy điện - Điện lực 3 (DRL): Q3/2026 pre-tax profit of VND 7 billion, down 25% year-over-year; 9M profit VND 35 billion, down 18%.
• BIS: Q3/2026 pre-tax loss of VND 2 billion, narrowed from a VND 7 billion loss a year earlier; 9M pre-tax loss of VND 22 billion versus a VND 7 billion loss in 9M/2025.
• Viglacera Đông Triều (DTC): Q3/2026 pre-tax loss of VND 7 billion, versus a VND 6 billion loss a year earlier; 9M pre-tax loss of VND 20 billion versus a VND 19 billion loss.
• The filing does not disclose the revenue or one-off items driving UDJ’s profit jump.

What Happened

The results were published in the 15 October batch of Q3/2026 financial statements, as compiled by Việt Nam hàng ngày. Becamex UDJ, a construction and materials company listed on UPCOM, reported pre-tax profit of VND 32 billion for the quarter, a 1,262% increase from the prior-year period. For the first nine months of 2026, the company’s pre-tax profit reached VND 26 billion, up 1,296% year-over-year.

The same batch showed mixed outcomes across sectors. Cấp thoát nước Lâm Đồng (LDW) posted Q3 pre-tax profit of VND 30 billion, up 9%, with 9M profit of VND 80 billion essentially flat. Thủy điện - Điện lực 3 (DRL) recorded VND 7 billion in Q3 pre-tax profit, down 25%, and VND 35 billion for 9M, down 18%. BIS reported a Q3 pre-tax loss of VND 2 billion, narrower than the VND 7 billion loss a year earlier, but its 9M loss widened to VND 22 billion from VND 7 billion. Viglacera Đông Triều (DTC) posted a Q3 pre-tax loss of VND 7 billion, slightly wider than the VND 6 billion loss a year earlier, with 9M losses at VND 20 billion versus VND 19 billion.

Market Context

UDJ trades on UPCOM, Vietnam’s unlisted public company market. Its shares closed at VND 7,000 on 14 October 2026, a low absolute price that reflects the stock’s small-cap profile and limited liquidity relative to HOSE-listed peers. DRL closed at VND 41,350 on 14 October, LDW at VND 22,100, and DTC at VND 4,000 on 11 October. The divergence in results across real estate, utilities and construction materials mirrors the uneven recovery in Vietnam’s domestic economy, where infrastructure-linked and water utility names have shown steadier earnings while some materials and power companies face margin pressure.

Strategic Significance

For long-term investors, UDJ’s profit surge is notable less for its absolute size than for what it signals about Becamex UDJ’s operating leverage at a small revenue base. A jump from a low prior-year comparable can reflect project handovers, cost normalization or one-off gains, and the filing does not break down the drivers. The contrast with DTC, which remains loss-making, and BIS, whose 9M loss widened sharply, highlights that not all construction-materials names are benefiting equally. UDJ’s UPCOM listing and VND 7,000 share price imply limited analyst coverage and thin trading, so the earnings beat may take time to be reflected in valuation.

What to Watch

• UDJ’s full Q3/2026 financial statements for revenue, gross margin and any one-off items behind the profit jump.
• Q4/2026 and full-year 2026 earnings releases for UDJ, LDW, DRL, BIS and DTC.
• Any UPCOM disclosure on UDJ’s project pipeline or backlog that would sustain the earnings trajectory.
• DTC and BIS loss trends in Q4 to assess whether construction-materials demand is stabilizing.
• LDW’s 9M flat profit and any regulatory updates on Lam Dong water tariffs.