Abstract: We analyzed the earnings revision of MSCI Indonesia index constituents for June 2026, estimating the index 2026E EPS at IDR 429.5 as of end-June, down -0.71% month-on-month from IDR 432.6 in May. The index itself declined -9.5% over the month, from 4,254 to 3,851, with 19 stocks revised up and 24 revised down. Individual stock EPS revisions contributed -IDR 1.84 to the index EPS change, with the largest negative impacts from Aneka Tambang (ANTM IJ, -IDR 10.2), PT Amman Mineral Internasional (AMMN IJ, -IDR 8.8), and United Tractors (UNTR IJ, -IDR 4.7), while Bank Mandiri (BMRI IJ, +IDR 5.4) provided the largest positive contribution. On a stock level, the biggest EPS upgrades were PT Bukalapak.com (BUKA IJ, +55.0%) and Barito Pacific (BRPT IJ, +44.7%), while PT Amman Mineral Internasional (AMMN IJ, -28.6%) and United Tractors (UNTR IJ, -7.7%) saw the steepest EPS cuts. On revenues, Chandra Asri Petrochemical (TPIA IJ) led upgrades at +73.6%, while PT Amman Mineral Internasional (AMMN IJ) also topped revenue downgrades at -9.24%.
United Tractors, PT Amman Mineral Internasional, Bank Mandiri, Bumi Serpong Damai, Barito Pacific, Astra Intl
A monthly review of consensus earnings revisions for MSCI Indonesia constituents. Each issue estimates how the index's forward EPS changed over the month, and tabulates the stocks with the largest impact on index EPS alongside their EPS and revenue revisions. All issues of Index Earnings Revision Monthly →
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