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[Alpha Biz=(Chicago) Reporter Paul Lee] As LG Energy Solutions announced its performance in the second quarter of this year, which falls short of expectations, expectations for its performance in the second half of this year are also falling.
Shares of LG Energy Solutions closed at 550,000 won on the 10th, down 2.14%. It was analyzed that the company announced its second-quarter earnings on the 7th, the previous trading day, which was below stock market expectations. LG Energy Solutions' operating profit for the second quarter was 611.6 billion won, less than 10% of the stock market's forecast (688.2 billion won). It is up 212% from the second quarter of last year (195.6 billion won).
Securities firms analyzed that as prices of major battery raw materials fell, the price of batteries in the second quarter fell in conjunction with them, which affected their performance. The fact that automakers, which expected further declines in battery prices, reduced orders was also cited as a factor in their poor performance.
Some securities firms forecast that their third-quarter earnings will also fall short of market expectations. NH Investment & Securities lowered its operating profit forecast for the third quarter of LG Energy Solutions to 682 billion won from 844 billion won.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
