LG Energy Solution announced on the 7th that it recorded KRW 7.5602 trillion in revenue and KRW 113.3 billion in operating profit on a consolidated basis in its preliminary second-quarter 2026 earnings. Quarterly revenue increased 15.3% compared to the previous quarter (KRW 6.555 trillion) and 24.8% compared to the same period last year (KRW 6.0562 trillion). While operating profit successfully returned to the black from the previous quarter (which saw an operating loss of KRW 207.8 billion), the figure represents a 77.0% decline compared to the same period last year (KRW 492.1 billion).

On a cumulative first-half basis, revenue reached KRW 14.1152 trillion, up 10.5% from the same period last year (KRW 12.7789 trillion). However, the cumulative operating loss stood at KRW 94.5 billion, turning to a deficit from the cumulative operating profit of KRW 866.8 billion recorded in the same period last year.

The earnings improvement reflects the effect of North American production subsidies under the Advanced Manufacturing Production Credit (AMPC·45X) of the U.S. Inflation Reduction Act (IRA). According to the company, including these subsidies, second-quarter revenue amounted to KRW 7.5602 trillion and operating profit was KRW 113.3 billion, as previously mentioned. However, excluding the subsidies, second-quarter revenue would be KRW 7.3193 trillion, with an operating loss of KRW 127.7 billion and an operating margin of -1.7%.

Meanwhile, LG Energy Solution changed the accounting presentation method for North American production subsidies starting from the first quarter of 2026. In the disclosed financial statements, revenue including these subsidies is presented under 'Revenue and Other Income,' and the same standard has been applied to restate the same period last year's figures. The company also added that these earnings are preliminary figures that have not yet undergone an audit by an external auditor.