JUSUNG ENGINEERING (036930) Q3 2026 earnings summary

Executive summary

• Q3 revenue was KRW 78.1bn and operating income KRW 17.7bn, up 32.8% and 426.4% YoY; net income was KRW 28.0bn, with operating margin of 22.6%.

• 9M revenue totaled KRW 192.8bn, operating income KRW 12.1bn and net income KRW 32.4bn; semiconductor equipment drove 98.2% of sales.

Financial highlights

• Q3 revenue rose to KRW 78.1bn from KRW 58.8bn YoY; operating income was KRW 17.7bn versus KRW 3.4bn, and net income KRW 28.0bn versus KRW 7.6bn.

• 9M revenue was KRW 192.8bn versus KRW 258.4bn YoY; operating income was KRW 12.1bn versus KRW 43.8bn and net income KRW 32.4bn versus KRW 40.4bn.

• Q3 basic EPS was KRW 614 versus KRW 167 YoY; 9M EPS was KRW 708 versus KRW 884.

• 9M operating cash flow was negative KRW 20.3bn, compared with negative KRW 54.4bn in the prior-year period; cash and equivalents ended September at KRW 121.2bn.

Outlook and guidance

• A KRW 104.8bn investment in the Yongin Second Research Institute is underway through June 2028, to add R&D fab space and build semiconductor, display and solar synergies.

• Plans include deploying ALG-based compound-semiconductor equipment in mass production and extending the technology across semiconductor, solar and display applications; global firms have sought technical collaboration.

• Global semiconductor equipment market is forecast to grow 23.2% in 2026 to $165.9bn, while global solar installations are forecast at 640GW, slightly below 2025.

• OLED market is forecast at $48.8bn in 2026 and $54.1bn in 2027; potential demand areas include automotive displays and XR.