LG Energy Solution flags 77% fall in Q2 operating profit on continued weak EV demand

LG Energy Solution expects Q2 operating profit to drop 77% to 113 billion won ($73.91M) due to sluggish EV demand weighing on battery sales. The sharp profit decline signals continued pressure on utilization and margins in the near term, raising downside risk to earnings momentum.

Analysis

LG Energy Solution expects Q2 operating profit to drop 77% to 113 billion won ($73.91M) due to sluggish EV demand weighing on battery sales. The sharp profit decline signals continued pressure on utilization and margins in the near term, raising downside risk to earnings momentum.