LG Energy Solution Q3 operating profit of 756 billion won tops forecasts
In short
LG Energy Solution reported third-quarter operating profit of 756 billion won, against an expected 365.48 billion won, Chinese financial outlets reported on October 8. Revenue was 9.64 trillion won, above the expected 8.48 trillion won. Jiemian said the figures are preliminary estimates and final results will be released later.
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LG Energy Solution posted third-quarter operating profit of 756 billion won, according to reports on October 8 by CLS, 36Kr and Jiemian. CLS and 36Kr said the result compared with an expected 365.48 billion won. 36Kr, citing Sina Finance, reported consolidated revenue of 9.64 trillion won, above the expected 8.48 trillion won. [ 1 , 2 ]
Jiemian said the company's preliminary estimate put operating profit up 25.7% from a year earlier and sales of 9.64 trillion won up 59%. It said the company is expected to publish final results later. [ 3 ]
Why it matters
The figures came in well above the forecasts cited by the outlets, and Chinese business and tech outlets reported them within an hour of each other. Jiemian noted the numbers are preliminary, so the final report could differ.
Key facts
- Third-quarter operating profit was 756 billion won. [ 1 , 2 , 3 ]
- The expected operating profit was 365.48 billion won. [ 1 , 2 ]
- Third-quarter consolidated revenue was 9.64 trillion won, above the expected 8.48 trillion won. [ 2 ]
- Jiemian reported operating profit rose 25.7% year on year and sales rose 59% year on year. [ 3 ]
- The figures are preliminary estimates; the company is expected to publish final results later. [ 3 ]
Confirmed by several sources
Still unclear
- Year-on-year growth of 25.7% in operating profit and 59% in sales. Only Jiemian reported the year-on-year comparisons.
- Whether the final results will match the preliminary figures. Jiemian said these are preliminary estimates and final results will be published later.
- Source of the revenue forecast of 8.48 trillion won. Only 36Kr, citing Sina Finance, gave the revenue forecast, without naming who made it.
What local media are saying
Timeline, local time
- CLS reports Q3 operating profit of 756 billion won versus a 365.48 billion won forecast. [ 1 ]
- 36Kr reports Q3 consolidated revenue of 9.64 trillion won, above the expected 8.48 trillion won. [ 2 ]
- Jiemian reports the preliminary figures with year-on-year growth of 25.7% in profit and 59% in sales. [ 3 ]