LS ELECTRIC (010120) Q3 2026 earnings summary

Executive summary

• 3Q'26 sales rose 54% YoY to KRW 1,878bn and operating profit increased 132% to KRW 234bn, supported by a strong backlog, global expansion and major U.S. projects.

• Backlog reached KRW 7,043bn, up 73% YoY; operating margin was 12.4%, up 4.1 percentage points YoY.

Financial highlights

• Sales were KRW 1,878bn, up 54% YoY and 19% QoQ; operating profit was KRW 234bn, up 132% YoY and 31% QoQ.

• Profit before tax was KRW 194bn, up 112% YoY and 24% QoQ; net income was KRW 143bn, up 117% YoY and 23% QoQ.

• Cash and cash equivalents were KRW 798bn at quarter-end, versus KRW 763bn in 3Q'25 and KRW 672bn in 2Q'26.

Outlook and guidance

• Busan factory expansion targets HV transformer capacity of KRW 1tn in 2028; total capacity including LS Power Solution is projected above KRW 1tn.

• LS ELECTRIC Utah production site is scheduled for completion in 2H 2027; Texas Bastrop Campus planning is in process.

• DC factory in Cheonan is intended to support market transition, with an in-house microgrid using ESS and solar power and parallel SST and PCS operation.