Simplify's take
What believers are saying
- 2025 EBITDA rose 23% to USD 415 million, with 9% volume growth.
- Fitch upgraded Puma to BB+ on May 26, 2026, citing stronger credit metrics.
- Q2 2026 results and a fresh RCF upsizing indicate liquidity and operating momentum.
What critics are saying
- Fitch warned 2026 debt rises from working-capital volatility and geopolitical disruptions.
- Puma is selling Tema and Takoradi terminals, signaling portfolio shrinkage and execution risk.
- Puerto Rico Energy's November 2026 trademark lawsuit shows brand and legal exposure.
What makes Puma Energy unique
- Trafigura-backed supply and partnerships support Puma Energy's 2026 downstream pricing discipline.
- Over 2,100 retail sites and 890 convenience stores create dense consumer reach.
- The March 2026 strategy prioritizes digitized retail, QSRs, and low-carbon add-ons.
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