Overview
- LG Electronics reported third-quarter net profit of 461 billion won, up 411.1 percent year-on-year due to a base effect from last year’s battery-pack business transfer.
- Operating profit at LG Electronics fell 8.4 percent to 688.9 billion won on sales down 1.4 percent to 21.87 trillion won as higher U.S. tariffs and a voluntary retirement program weighed on results.
- LG Electronics’ segments showed resilient home appliances, a 302.6 billion won operating loss in TVs, record 1.5 billion won operating profit in vehicle components, and lower HVAC profitability.
- LG Chem posted net income of 447.3 billion won, down 55.8 percent from a high prior-year base, while operating profit rose 38 percent to 679.7 billion won with sales of 11.19 trillion won.
- LG Chem beat the analysts’ average net-profit estimate of 182.5 billion won, and its petrochemical unit delivered 29.1 billion won in operating profit on 4.5 trillion won in sales despite higher tariffs and softer demand.