Hanwha Solutions Posts Q3 Operating Profit of 90.5 Billion Won on Strong U.S. Solar Business
Renewable energy operating profit reaches 105.1 billion won; chemicals remain in the red
Hanwha Solutions posted a profit for the third consecutive quarter, buoyed by increased sales of solar modules in the United States and improved profitability in its residential energy business.
Hanwha Solutions said on October 29 that it recorded consolidated revenue of 3.9486 trillion won and operating profit of 90.5 billion won in the third quarter of 2026.
By business division, the renewable energy division posted revenue of 2.1632 trillion won and operating profit of 105.1 billion won. It continued to turn a profit as solar module sales increased in the U.S. market and profitability improved in its residential energy business.
The chemicals division recorded revenue of 1.3426 trillion won and an operating loss of 44.7 billion won. Product prices weakened amid a decline in geopolitical risk premiums and falling international oil prices. Profitability also deteriorated due to a reverse-lagging effect, as raw materials purchased at higher prices in the past were used in production.
The advanced materials division posted revenue of 291.9 billion won and operating profit of 38.9 billion won. Operating profit increased as production volumes rose among major customers for lightweight composite materials in the North American market, while sales of solar materials remained steady.
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Lee Jaebin, chief financial officer (CFO) of Hanwha Solutions, said, "With the Solar Hub ramping up operations in earnest, we posted a profit for the third consecutive quarter, led by the renewable energy division. In the fourth quarter, module selling prices are expected to continue rising in line with changes in U.S. trade policy. However, short-term earnings volatility is expected due to the lag in reflecting selling prices, as well as changes in the schedules and costs of EPC projects."
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