[Breaking] LG Energy Solution Q3 Operating Profit at KRW 756 Billion, Up 25.7% YoY

LG Energy Solution held an earnings briefing on the morning of November 3 and announced that it generated revenue of KRW 9.6434 trillion and operating profit of KRW 756 billion in the third quarter of 2026.

Revenue rose 59% from the same period a year earlier (KRW 6.0654 trillion) and 27.6% from the previous quarter (KRW 7.5602 trillion). Operating profit increased 25.7% from a year earlier (KRW 601.3 billion) and 567.3% from the previous quarter (KRW 113.3 billion). North American production subsidies reflected in the third-quarter results, including IRA tax credits, amounted to KRW 416.9 billion.

Lee Changsil, Senior Vice President and Chief Financial Officer (CFO) of LG Energy Solution, said, "Third-quarter company-wide revenue increased 28% from the previous quarter, driven by a sharp rise in energy storage system (ESS) shipments and volume-led growth in both electric vehicle pouch-type and cylindrical products."

He added, "As for profitability, we posted operating profit of KRW 756 billion, reflecting improved capacity utilization at our Polish plant, continued supply volumes of cylindrical products, and productivity improvements at newly ramped-up ESS production sites."

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