SM Investments’ three-quarter income climbs 9%, hits P70.2B

SM Investments Corp. reported a 9 percent increase in consolidated net income to P70.2 billion in the first nine months of 2026, supported by resilient consumer spending, banking growth and stronger earnings from portfolio investments.

The parent company of the SM Group said Wednesday, 11 November, that net income rose from P64.4 billion in the same period last year, while consolidated revenue increased 5 percent to P506.8 billion from P482.3 billion.

Resilient consumer demand

“Ongoing resilient consumer demand supported retail and malls, while portfolio investments delivered stronger earnings,” SM Investments president and CEO Frederic DyBuncio said.

Banking remained the largest contributor to consolidated net income at 48 percent, followed by property at 26 percent, retail at 15 percent and portfolio investments at 11 percent.

SM Retail posted a 7 percent increase in net income to P13.1 billion, while revenue grew 5.4 percent to P335.3 billion.

The company attributed the growth to continued consumer spending across its food and specialty retail businesses.

Food retail maintained steady sales growth across supermarkets and minimarts, driven by demand for essential goods.

Specialty retail also recorded higher sales, supported by demand for alternative power sources and discretionary purchases, particularly toys, stationery and pet products.