Hyundai Mobis (012330) Q3 2026 earnings summary

Executive summary

• Q3 2026 revenue rose 4.6% YoY to KRW 15.723tn and operating profit increased 17.2% to KRW 914.1bn; net profit fell 35.7% to KRW 598bn.

• Module and Core Parts revenue grew on electrification and electronics, while A/S profit benefited from regional ASP increases, favorable FX and lower tariffs.

Financial highlights

• Q3 gross profit was KRW 2.342tn, up 10.0% YoY; operating margin rose 0.6 percentage points to 5.8%.

• Q3 pre-tax profit declined 27.0% YoY to KRW 920bn; net profit fell 35.7% to KRW 598bn and net margin decreased 2.4 points to 3.8%.

• 9M 2026 revenue increased 4.1% YoY to KRW 47.609tn and operating profit rose 10.9% to KRW 2.692tn; net profit declined 12.3% to KRW 2.542tn.

Outlook and guidance

• 2026 core-parts non-captive order target is USD 8.974bn; Q3 cumulative orders were USD 1.148bn, or 13% of target.

• Estimated 2026 non-captive orders for modules and core parts are on track to exceed USD 11.8bn, including module orders.

• Order prospects face project delays as OEMs shift strategies from BEV to HEV or ICE and prioritize profitability; expansion of core-parts and module-assembly opportunities remains planned.