LG Chem likely to post upbeat earnings in Q2
[THE INVESTOR] LG Chem is expected to deliver market forecast-beating earnings for the second quarter of the year, industry data showed on July 17.
LG Chem, set to report its second-quarter bottom line this week, is estimated to have logged a net profit of 492 billion won (US$436 million) during the April-June period, compared to a profit of 353 billion won a year earlier, according to the data.
Its operating income is projected at 689 billion won, also up 12.5 percent from a year earlier, with sales spiking 18.8 percent on-year to reach 6.2 trillion won.
“LG Chem’s second-quarter earnings may beat the market forecast, as its key products have fared well in line with the boom in related industries,” said Lee Dong-wook, an analyst at Kiwoom Securities.
The analyst put LG Chem‘s second-quarter operating income at 739 billion won.
Its EV battery business is estimated to have swung to the black by logging 6.6 billion won in operating income, he said.
By Alex Lee and newswires (firstname.lastname@example.org)