Posco Future M (003670) Q2 2026 earnings summary

Executive summary

• Achieved consolidated sales of KRW 680 bn and operating profit of KRW 27 bn in 2Q26, with operating margin improving to 3.9% year-over-year and quarter-over-quarter.

• Net profit reached KRW 25 bn, a significant turnaround from a net loss in the same quarter last year.

• EBITDA increased to KRW 80 bn, up KRW 30 bn year-over-year.

Financial highlights

• Sales rose by KRW 19 bn year-over-year but declined KRW 78 bn sequentially from 1Q26.

• Gross profit improved to KRW 91 bn, up KRW 41 bn year-over-year and KRW 18 bn quarter-over-quarter.

• Net profit margin improved to 3.6%, up 9.0 percentage points year-over-year.

• Total assets increased to KRW 9,608 bn, with equity at KRW 4,714 bn.

Outlook and guidance

• Targeting cathode and anode utilization rates above 70% by 2027, with further increases planned for 2028.

• New artificial graphite and spherical graphite plants are on track, with trial runs scheduled for 2027.

• Expansion in cathode portfolio and utilization recovery expected to drive further turnaround.