[Featured Stock] LG Chem Rises for Second Day, Up 4.58% on 'Earnings Surprise'...

[Asia Economy Reporter Kwon Jae-hee] LG Chem has recorded an 'earnings surprise' in the first quarter, maintaining its strong performance for the second consecutive day.

As of 2:22 PM on the 29th, LG Chem is trading at 525,000 KRW on the KOSPI market, up 4.58% compared to the previous trading day.

LG Chem also closed the previous day’s trading at 502,000 KRW, up 8.42% from the previous trading day.

In the first quarter of this year, LG Chem recorded an 'earnings surprise' that exceeded market expectations, driven by the strong performance of its advanced materials business division.

LG Chem’s consolidated sales for the first quarter, announced the previous day, reached 11.6081 trillion KRW, a 20.4% increase compared to the first quarter of last year, marking the highest quarterly sales since the company’s founding.

Operating profit decreased by 27.3% to 1.0243 trillion KRW due to deteriorating profitability in the battery and petrochemical businesses, but it exceeded the market forecast of 895.3 billion KRW by 14%.

Lee Jin-ho, a researcher at Mirae Asset Securities, analyzed, "The chemical sector is still facing difficult market conditions, but the worst period is expected to be over," adding, "Advanced materials are expected to see further profitability improvements as the proportion of high-nickel cathode materials increases in the future."

This content was produced with the assistance of AI translation services.