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Posco Future M (003670) investor relations material
Posco Future M Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
1Q26 consolidated sales reached KRW 758 bn, up KRW 200 bn sequentially but down KRW 87 bn year-over-year.
Operating profit was KRW 18 bn, a significant turnaround from a KRW 52 bn loss in 4Q25 and slightly higher than 1Q25.
Net profit for the quarter was KRW 6 bn, recovering from a KRW 23 bn loss in the previous quarter.
Financial highlights
Gross profit improved to KRW 73 bn from KRW 8 bn in 4Q25, nearly matching 1Q25.
EBITDA rose sharply to KRW 67 bn from KRW 1 bn in 4Q25.
Operating profit margin (OPM) was 2.3%, up 11.6 percentage points sequentially.
Net profit margin (NPM) was 0.8%, a 5.0 percentage point improvement from 4Q25.
Outlook and guidance
Final stage contract negotiations for LFP cathode with key customers, including European EV makers.
Mass production of new LFP cathode lines scheduled for 2H26, with prototype shipments in May 2026.
Artificial graphite anode mass production in Vietnam planned for 2028, with a major supply contract signed in Mar. 2026.
- Profitability weakened on energy materials, but base materials rebounded after furnace revamp.003670
Q3 202417 Feb 2026 - 2Q24 saw a net loss amid falling sales, inventory losses, and higher repair costs.003670
Q2 202417 Feb 2026 - Sharp revenue and profit declines driven by weak energy materials and major impairments.003670
Q4 202417 Feb 2026 - Sequential profit recovery driven by higher sales and improved margins in key divisions.003670
Q1 202517 Feb 2026 - 2Q25 saw steep profit declines, Energy Materials losses, and higher debt amid volatile markets.003670
Q2 202517 Feb 2026 - 3Q25 saw a strong profit turnaround, led by Energy Materials and improved capital structure.003670
Q3 202516 Feb 2026 - Profitability rebounded in 2025, led by Base Materials and strategic investments.003670
Q4 202516 Feb 2026
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