On the 7th, LG Energy Solution's stock price is strong in the early trading session. This comes after news that LG Energy Solution recorded earnings that surpassed market expectations for the second quarter (April to June) this year.
As of 9:08 a.m. on the 7th, LG Energy Solution is trading at 316,500 won, up 6,000 won (1.93%) from the previous trading day.
LG Energy Solution announced on the 7th that its preliminary revenue for the second quarter was 5.5654 trillion won, and its operating profit was 492.2 billion won. Compared to the same period last year, revenue decreased by 9.7%, while operating profit increased by 152%. This scale exceeds market expectations (operating profit of 305.5 billion won).
The operating profit includes 490.8 billion won reflected from the U.S. Inflation Reduction Act (IRA) for advanced manufacturing production tax credits (AMPC). Excluding this, the operating profit for the second quarter is 1.4 billion won, marking the first operating profit surplus excluding subsidies in six quarters.