[Market Focus] LG Energy Solution Rises on Improved Q2 Earnings

LG Energy Solution is showing strong performance in improving its results for the second quarter of this year.

As of 9:41 a.m. on July 7, LG Energy Solution was trading at 314,500 won on the Korea Exchange, up 4,000 won (1.29%) from the previous session. The stock rose more than 6% in early trading.

On this day, LG Energy Solution announced in a regulatory filing that its preliminary sales for the second quarter were 5.5654 trillion won, with an operating profit of 492.2 billion won. Compared to the same period last year, sales decreased by 9.7%, while operating profit increased by 152.0%. Excluding subsidies from the U.S. Inflation Reduction Act (IRA), operating profit was 1.4 billion won, marking a return to profit for the first time in six quarters.