View of Korea Exchange (photo = Yonhap news)

 

[Alpha Biz=(Chicago) Reporter Paul Lee] Ahead of its first-quarter earnings announcement, seven out of 10 listed companies saw their earnings outlook fall from the beginning of this year, the report showed. Attention is being paid to whether the drop in eyes on corporate earnings will also affect the upward trend of the Korean stock market.

According to financial information provider FnGuide on the 31st, out of a total of 99 listed companies in the securities market that presented earnings estimates by more than three securities companies as of the 28th, their operating profit estimates for the first quarter of this year were lower than the beginning of this year.

LG Energy Solutions' first-quarter operating profit was expected to be 615.9 billion won at the beginning of the year, but it recently lowered its earnings forecast by 80% to 120.8 billion won. Hanwha Ocean (042660) revised its operating profit estimate for the first quarter from 83.4 billion won to 17.9 billion won, down 78.5%.

POSCO Future M (003670) (-60.1%), Lotte Fine Chemicals (004000), Lotte Energy Materials (020150) (-56.4%), and NCsoft (036570) (-56.0%) also saw their operating profit estimates drop to less than half. Hyundai Mipo Dockyard (010620), Hanwha Solution (009830), and L&F (066970) were expected to have operating profit surpluses in the first quarter until early this year, but they turned into deficits.

 

 

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