I-Tail Reports Record Q3, Acquires US Pet Food Maker
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I-Tail Corporation (ITC), a global leader in the pet food industry, reported its Q3 2026 results, marking the strongest quarter of the year with revenue of 5.177 billion baht, up 9.7% compared to the same period last year. Dollar-denominated sales grew 11.2% to $160 million, and pet food sales volume increased 11.4% year-on-year to 31,376 tons. Gross margin remained strong at 25.0%, reflecting ITC's robust business momentum.
Performance was driven by strong customer demand, continued business expansion in the United States, and new product launches. Gross profit rose 7.7% year-on-year to 1.292 billion baht, supported primarily by operational efficiency gains under the company's transformation program and a favorable product mix from sustained growth in the premium segment. Despite additional quarterly expenses, including acquisition-related costs, operating profit increased 0.7% to 733 million baht, with net profit at 756 million baht.
During the quarter, ITC announced the acquisition of Phelps Pet Products, a significant step in strengthening its US business, which is ITC's largest market. Founded in 1966, Phelps Pet Products operates as a contract manufacturer for leading pet food brands and retailers, with expertise in protein-focused dog treats using natural ingredients and minimal processing, as well as custom product development and manufacturing.
CEO Roy Chan stated that the outstanding Q3 performance reflects the company's strong strategic trajectory, driven by customer base expansion, innovation, and sustained demand from key accounts. ITC continues to drive growth through innovation, operational efficiency, and expansion in strategically important markets. The Phelps acquisition marks a key milestone in this growth path, with Phelps' expertise and capabilities in dog treats enhancing ITC's portfolio and expanding its US manufacturing footprint. The company continues to seek investment opportunities in businesses aligned with its growth strategy and long-term objectives.
In the first nine months of 2026, the Americas remained ITC's largest market at 60% of total sales, up 18.6% year-on-year, driven by customer base expansion, new product development progress, and strong demand in the Chunk and Pâté segments. Europe accounted for 15% of sales, up 19.7%, supported by customer expansion across multiple markets. Asia and Oceania represented 25% of sales, backed by projects and new product launches.
