[Click eStock] "SK IE Technology, Weak Q3 Earnings"

NH Investment & Securities lowered the target price of SK IE Technology from 49,000 KRW to 46,000 KRW on the 5th, stating that the company's third-quarter earnings fell short of market expectations.

SK IE Technology reported third-quarter sales of 50.8 billion KRW and an operating loss of 73 billion KRW. Market expectations were sales of 67.3 billion KRW and an operating loss of 55 billion KRW.

Juminwoo, a researcher at NH Investment & Securities, explained, "The sales volume declined due to SK On's intensive inventory adjustments, causing the results to fall short of market expectations," adding, "the shipment volume of separators decreased by 69% compared to the same period last year." He continued, "The operating rate is sluggish at around 20%," and "due to the high fixed cost structure of the separator business, a large-scale deficit occurred because of the low operating rate."

Researcher Joo estimated, "In the fourth quarter of this year, sales will be 55.1 billion KRW, and the operating loss will be 99.1 billion KRW," analyzing that "profitability deterioration is inevitable due to year-end cost reflections."

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