POSCO Holdings Q2 Profit Surges 808% YoY on Steel, Battery Materials Rebound
PKX is trading near its 52-week low of $44.99 (13% above the low).
Summary
POSCO Holdings reported Q2 2026 net profit of KRW 761 billion, up 808% YoY, with broad-based strength across steel, battery materials, and infrastructure. The lithium subsidiary POSCO-Argentina turned profitable for the first time, and the company advanced key growth projects.
Key Events · Earnings and Guidance · PKX
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Q2 Net Profit Surges 808% YoY
Consolidated net profit reached KRW 761 billion, up from KRW 84 billion a year ago, driven by higher steel prices, increased sales volumes, and a turnaround in battery materials.
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Lithium Subsidiary Turns Profitable
POSCO-Argentina recorded its first-ever quarterly operating profit, supported by stabilized operations at its CP1 lithium plant and preparations for CP2 completion by October 2026.
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Steel Margins Expand on Price Hikes
Carbon steel selling price rose KRW 42,000/ton QoQ to KRW 962,000/ton, offsetting a 6% increase in raw material costs and lifting the steel segment's operating profit to KRW 403 billion.
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Portfolio Restructuring Generates Cash
In 1H26, 12 divestment projects generated KRW 475.4 billion in cash, part of a cumulative KRW 2.2 trillion since 2024, as the company exits non-core assets to fund growth.
Analysis · PKX · Manufacturing
A standout quarter for POSCO Holdings saw net profit skyrocket 808% year-over-year to KRW 761 billion. The steel business capitalized on higher selling prices and volumes, while the rechargeable battery materials segment swung to an operating profit, fueled by the first-ever quarterly profit at its Argentine lithium operation. These results validate the company's aggressive push into lithium and cathode materials, even as net debt edged higher. The earnings release also spotlights progress on strategic projects—a U.S. lithium demo plant, LFP cathode expansion, and a rare gas plant—that underpin the long-term transformation narrative.
At the time of this filing, PKX was trading at $50.99 on NYSE in the Manufacturing sector, with a market capitalization of approximately $14.7B. The 52-week trading range was $44.99 to $92.40. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.