Abstract: We analyzed consensus earnings revisions for MSCI Indonesia index constituents in September 2026. Stock-level EPS revisions contributed a net IDR8.13 to index EPS, the index 2026E EPS rose 3.9% month-on-month to IDR445.9, and 16 names were revised up against 16 revised down, even as the index fell 5.8% from 4,240 to 3,992. Barito Pacific (BRPT IJ) led positive contributors with 2026E EPS up 248% and a contribution of IDR6.12 to index EPS. Bukit Asam (PTBA IJ, EPS +27.9%), Adaro Andalan Indonesia (AADI IJ, EPS +7.4%), and Bank Central Asia (BBCA IJ) added IDR1.39, IDR1.26, and IDR0.91 to index EPS respectively. United Tractors (UNTR IJ) was the largest drag, with 2026E EPS cut 8.4% and a contribution of -IDR0.39 to index EPS.
Bank Central Asia, GoTo Gojek Tokopedia, Pakuwon Jati, PT Indofood Sukses Makmur, Bukit Asam, Adaro Andalan Indonesia
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