[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.
