[Featured Stock] S-Oil Falls Over 3% Amid Weak Q1 Earnings

S-Oil fell more than 3% immediately after the market opened due to disappointment over its weak first-quarter earnings.

On the 26th, S-Oil was trading at 73,700 KRW, down 2,300 KRW (3.03%) from the previous close on the KOSPI market. The trading volume was about 81,800 shares, with a trading value of approximately 6.1 billion KRW.

The stock opened at 76,100 KRW that day but dropped to the 73,000 KRW range shortly after the market opened due to heavy selling. It fell to a low of 73,500 KRW but then slightly rebounded.

At 9 a.m. that day, S-Oil announced that its consolidated operating profit for the first quarter was 454.16 billion KRW, down 11.9% compared to the same period last year. During the same period, sales increased by 2.5% to 9.308489 trillion KRW, but net profit was preliminarily estimated at 166.23 billion KRW, a decrease of 37.4%.