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Hyundai Motor |
[Alpha Biz= Reporter Kim Sangjin] As the second quarter earnings season begins, it has been reported that half of the 273 listed companies with existing earnings consensus have recently lowered their forecasts over the past month.
According to financial information provider FnGuide on the 21st, among the 273 companies with earnings forecasts (for those covered by at least three securities firms), the adjusted operating profit estimates for the second quarter have shown mixed trends. In the KOSPI major stocks, semiconductor companies have seen improved outlooks. SK Hynix's forecast was raised by 10.8% to 5.1923 trillion won from 4.687 trillion won a month ago. Samsung Electronics' preliminary operating profit for Q2, announced on the 5th, surpassed market expectations with a significant increase of 1452.2% year-on-year to 10.4 trillion won. Hyundai Motor and Kia also saw their Q2 operating profit forecasts raised by 4.6% and 2.1%, respectively, due to favorable exchange rates and strong exports to the U.S. Bio companies such as Samsung Biologics and Celltrion also saw their estimates increase by 4.8% and 5.2%, respectively.
On the other hand, LG Energy Solution's Q2 operating profit was lower than expected due to the slowdown in the global electric vehicle market, with a significant decrease of 57.6% year-on-year to 195.3 billion won. POSCO Holdings and Samsung SDI also saw their profit estimates reduced by 4.1% and 11.6%, respectively, over the past month. Major internet companies Kakao and Naver also saw their forecasts reduced by 9.5% and 3.2%, respectively.
Despite increased earnings forecasts for large-cap companies like SK Hynix, the total operating profit estimate for listed companies in the second quarter has risen by 4% to 60.8253 trillion won from 58.394 trillion won a month ago. However, among the 273 companies with earnings forecasts, 49% (134 companies) had their Q2 operating profit estimates lowered, while 112 companies saw their forecasts raised. The company with the most significant downward revision was S-Oil, with a 63.5% reduction from 455.7 billion won to 166.3 billion won, attributed to prolonged weak refining margins. Com2uS also saw a 61.0% reduction to 22 billion won, with YG Entertainment and Hyundai Steel also experiencing significant drops of 54% and 42%, respectively.
Conversely, Netmarble saw the largest increase in its Q2 operating profit estimate, raised by 53.9% from 42.9 billion won to 66 billion won. LG Innotek, Samsung Securities, HMM, and HD Hyundai Heavy Industries also saw notable increases in their estimates by 26%, 24%, 23%, and 17%, respectively.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
