SK Innovation Beats Q1 Profit Forecasts on Strong Revenue
The South Korean refiner posted a 2.2 trillion won operating profit for the first quarter, significantly exceeding analyst expectations. While the company warned that refining normalization will take time, its battery unit SK On narrowed losses despite slowing global demand for electric vehicles.
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SK INNOVATION CO LTD reported a 2.2 trillion won ($1.48 billion) operating profit for the first quarter, reversing a 30 billion won loss from the previous year. The result exceeded the 1.4 trillion won forecast by LSEG SmartEstimate, highlighting stronger-than-expected performance. This earnings beat comes as the company navigates a prolonged recovery in its refining operations.
