MGEN Renewable eyes 2026 profit turnaround

SP New Energy Corp. (SPNEC) now renamed to MGEN Renewables, Inc. (MGENR), expects to post its first full-year profit in 2026, with expected net income of around P700 million for FY 2026, as MTerra Solar’s growing earnings contribution drives a turnaround from its P4.1 billion net loss in 2025.

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