LG Display (034220) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached KRW 5.6121 trillion, up slightly YoY and 1% sequentially, driven by increased shipments of medium and large displays and favorable exchange rates.

• Operating loss was recorded due to KRW 240 billion in one-off workforce restructuring costs, but core business profitability excluding these costs improved significantly YoY.

• EBITDA was KRW 872 billion, down 24% sequentially and 17% YoY.

• OLED business expansion and cost innovation efforts are ongoing, with OLED revenue share at 57% in Q2 and 58% in H1 2026, both up YoY.

• The company operates globally in OLED and TFT-LCD, with 95% of sales overseas and major customers accounting for 92% of sales.

Financial highlights

• Q2 2026 revenue was KRW 5.6121 trillion; H1 2026 consolidated revenue was KRW 11,146,065 million.

• Q2 2026 net income showed a loss of KRW 418.8 billion, impacted by FX translation losses; H1 2026 net loss was KRW 994,545 million.

• Operating profit margin was -2% in Q2; EBITDA margin was 16% in Q2 and 15.5% in Q2.

• Gross margin was 13.6% in Q2 and 13.7% in H1 2026.

• Basic EPS for Q2 2026 was KRW -838; for H1 2026, -1,951 KRW.

Outlook and guidance

• Q3 shipments of large and mobile OLED products are expected to increase due to positive seasonality, with total area shipment projected to rise by mid-single-digit percent QoQ.

• Price per square meter is expected to rise by high-teen percent, driven by mobile OLED seasonality.

• 2026 capex is expected in the mid to high KRW 2 trillion range, focused on OLED capacity and technology.

• The company will continue cost innovation and technological leadership to navigate macroeconomic uncertainties.

• Management expects future performance to be influenced by market conditions and strategic direction.