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South Korea's LG Energy Solution says Q2 profit likely up 152% on year
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South Korea's LG Energy Solution says Q2 profit likely up 152% on year
Jul 6, 2025 5:19 PM

SEOUL, July 7 (Reuters) -

South Korea's LG Energy Solution (LGES), an

electric car battery supplier for General Motors ( GM ) and

Tesla, on Monday estimated a 152% rise in its quarterly

operating profit.

LGES said its operating profit was likely 492 billion

won ($360.94 million) for the April-June period.

That compared with a 195 billion won profit a year

earlier and a 294 billion won profit forecast compiled by LSEG

SmartEstimate, weighted toward analysts who are more

consistently accurate.

Analysts said LG Energy Solution's operating profit

likely benefited from extra demand by automakers in the second

quarter, as many rushed to secure battery cells ahead of

potential U.S. tariffs. Automakers were also likely betting on a

recovery in sluggish electric vehicle demand, prompting early

purchases.

The South Korean battery maker said it expected an

operating profit of 1.4 billion won ($1.03 million) in the

second quarter excluding tax credits under the U.S. Inflation

Reduction Act.

LGES is expected to release detailed results in late

July.

($1 = 1,363.1000 won)

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