LG Electronics прогнозирует операционную прибыль третьего кварталя значительно ниже ожиданий рынка, amid lingering business uncertainties, sending shares tumbling, though continued earnings improvement keeps the South Korean consumer-electronics giant on course for a recovery this year. While the performance was softer than expected, LG has continued to expand aggressively into fast-growing businesses in the AI era, such as data-center cooling systems and robotics, while trying to maintain growth in its home-appliance and other core businesses. LG said Wednesday that geopolitical instability and macroeconomic volatility were weighing on the company.
Analysts see Korean exporters facing challenges from the won’s appreciation and elevated shipping costs amid conflicts in the Middle East and Europe. Despite the persistent uncertainties, LG said its home-appliance, vehicle-component and TV businesses remained profitable in the quarter. Companywide cost cuts also helped offset higher logistics, material and fixed costs, it said.
Operating profit likely climbed 13.5% from a year earlier to 781.80 billion won, equivalent to $584.4 million, for the three months ended September, the company said. Revenue is expected to have risen 8.9% to 23.827 trillion won. Compared with the previous quarter, operating profit likely fell 50.5%, while revenue is projected to have been flat.
Both figures missed market expectations. Analysts were looking for a bigger quarterly profit jump to 1.028 trillion won, according to a Fact Set-compiled consensus estimate. Shares fell more than 9% following the preliminary results, paring strong year-to-date gains.
The stock has still more than doubled this year as the company expands its push into AI and new businesses.
Источник: Wall Street Journal US Business · Сводку подготовил HeadlinesBriefing