LG Energy profit beats estimates on energy-storage systems
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓LG Energy Solution reported a third-quarter operating profit of 756 billion won, beating analyst estimates.
- ✓The company got a boost from US manufacturing incentives and high demand for energy-storage systems.
- ✓Revenue reached 9.6 trillion won as the firm shifted production to meet data center needs.
Story at a Glance
- Category
- BUSINESS
- Reported By
- MoneyControl
- Reading Speed
- 1 Minute(s)
- Market Focus
- India Economy
LG Energy Solution Ltd. reported preliminary third-quarter earnings that were more than double analyst estimates as the South Korean battery maker benefited from US manufacturing incentives and surging demand for energy-storage systems. Operating profit came in at 756 billion won ($56 million) for the three months ended September 30, compared with the 365.5 billion won average of analysts surveyed by Bloomberg. Revenue at 9.6 trillion won outpaced the forecast of 8.5 trillion won.
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