Kia (000270) Q2 2026 earnings summary

Executive summary

• Achieved record high quarterly sales and revenue in Q2 2026, with global retail sales up 6% YoY and 5.8% YoY, outperforming a 3.8% decline in industry demand.

• Electrified vehicle sales surged 60% YoY, expanding their mix to 35.3% of total sales, and global market share reached an all-time high of 4%.

• Strong regional performance in the U.S., Western Europe, India, and Latin America offset declines in EMEA due to Middle East conflict.

• Global market share rose to 4.0%, up 0.5 percentage points from Q2 2025.

Financial highlights

• Q2 2026 revenue rose 12.6% YoY to KRW 33.037 trillion (W33,037 billion), setting a quarterly record.

• Operating profit declined 4.9% YoY to KRW 2.629 trillion, with an operating margin of 8%.

• Net profit increased 2.6% YoY to KRW 2.328 trillion, and pre-tax profit rose 2.3% YoY to KRW 3.068 trillion.

• Non-operating income for Q2 2026 was KRW 440 billion, up KRW 205 billion YoY.

• Consolidated sales units grew 4.3% YoY to 803,985 units.

Outlook and guidance

• Full-year wholesale sales target set at 3.35 million units and operating profit at KRW 10.2 trillion.

• 2026 sales targets: 584k units in Korea (+7% YoY), 903k in the U.S. (+6% YoY), 575k in W. Europe (+13% YoY), 317k in India (+13% YoY).

• XEV mix target for Korea is 58%, with BEV at 20% and HEV at 38%.

• Expecting 10% additional growth in H2 2026, with balanced regional growth to offset EMEA risks.

• No further increase in incentive levels planned for Europe in H2; cost reduction and stable raw material prices expected to support margins.