LG Energy Solution Q3 operating earnings up 40.1% to $545 mil.

The Korea Times - LG Energy Solution, Korea's leading car battery maker, said Wednesday its estimated operating profit jumped 40 percent in the third quarter from a year earlier, helped by strong demand in the United States.

Operating profit in the three months ended in September jumped to 731.2 billion won ($545 million) from 521.9 billion won during the same period of last year, the company said in a regulatory filing.

Sales rose 7.5 percent to 8.22 trillion won in the third quarter from 7.65 trillion won a year earlier.

"Robust battery demand in the U.S. gave a boost to the quarterly bottom line amid an accelerating electrification. An expanded capacity in (the company's) U.S. plant and improved productivity also helped," the filing said.

Final earnings results are set to be released on Oct. 25. (Yonhap)      

Source: https://www.koreatimes.co.kr/www/tech/2023/10/419_360880.html 

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