LG Energy Solution expects Q3 profit to rise
South Korean battery maker LG Energy Solution expects its third-quarter operating profit to increase by 25.7 percent. The company cited tax credits and a one-off automaker payment as key factors.
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LG ENERGY SOLUTION expects July-September operating profit to rise 26% to 756 billion won ($564.09 million), beating analyst estimates. The South Korean battery maker navigated a prolonged electric vehicle demand slowdown through production credits and a North American compensation payout. Operating profit exceeded the LSEG SmartEstimate forecast of 309 billion won by a wide margin.
