CJ Cheiljedang (097950) Q3 2026 earnings summary

Executive summary

• Q3 sales excluding CJ Logistics rose 5.7% YoY to KRW 4.23T, led by overseas GSPs, new Korean products, higher-value solutions and feed amino acids.

• Operating profit excluding CJ Logistics rose 6.9% to KRW 203B; net income fell KRW 27.2B to KRW 15.1B, mainly due to FX valuation losses.

• Including CJ Logistics, sales increased 7.0% to KRW 7.3952T, while operating profit declined 7.4% to KRW 309.1B and net profit fell 46.5% to KRW 61.7B.

Financial highlights

• Excluding CJ Logistics, gross profit rose 7.3% YoY to KRW 1,248.1B and SG&A increased 7.4% to KRW 1,045.1B.

• Excluding CJ Logistics, EBITDA increased 4.4% YoY to KRW 416.2B.

Outlook and guidance

• Q4 sales excluding CJ Logistics are expected to grow at a low-single-digit rate, with operating margin in the 5% range.

• Lifestyle Foods expects limited revenue growth amid unfavorable FX and persistent raw-material and logistics costs; resource allocation is expected to support slight profitability improvement.

• Technical Solution expects nucleotide peak-season strength to support record annual earnings and its highest quarterly performance; Performance Ingredients expects feed amino-acid profitability improvement, especially in Lysine, Arginine and SPC.