LG Display (A034220) Q3 2025 earnings summary

Executive summary

• Q3 2025 saw a significant turnaround with revenue of KRW 6.957 trillion, up 25% QoQ and 2% YoY, and operating profit of KRW 431 billion, driven by OLED shipment growth, cost innovation, and new product launches.

• OLED products accounted for 65% of total revenue, up 9 percentage points QoQ and 7 percentage points YoY, reflecting a successful shift to an OLED-centric business model.

• Net income was KRW 1.2 billion, including foreign currency translation gains, a significant turnaround from a net loss of KRW 338 billion in Q3 2024.

Financial highlights

• Revenue for Q3 2025: KRW 6.957 trillion, up 25% QoQ and 2% YoY.

• Operating profit: KRW 431 billion, improving by over KRW 500 billion both QoQ and YoY; adjusted to KRW 470 billion excluding KRW 40 billion in one-time workforce costs.

• EBITDA: KRW 1.4239 trillion, up 35% QoQ and 23% YoY, with a 20% margin.

• Gross margin improved to 16.4% from 9.1% in Q2 2025 and 12.4% in Q3 2024.

• Year-to-date revenue: KRW 18.6093 trillion; operating profit: KRW 345 billion, up KRW 1 trillion YoY.

Outlook and guidance

• Q4 OLED area shipment expected to grow, while LCD shipment will decrease as focus remains on profitability.

• Total area shipment projected to grow in low single digits QoQ; ASP per square meter expected to decline slightly QoQ due to product mix changes.

• OLED revenue share in Q4 expected to remain similar QoQ, with annual share at low 60% level.

• Additional workforce improvement program planned for Q4, with anticipated greater financial impact than Q3.

• Management expects continued benefit from increased OLED panel shipments and ongoing cost innovation.