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LG Energy Profit Misses Estimates Amid Slow EV Demand

LG Energy Profit Misses Estimates Amid Slow EV Demand
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Transportation LG Energy Profit Misses Estimates Amid Slow EV Demand LG Energy Solution Ltd. reported preliminary second-quarter earnings that missed analyst estimates, as lackluster support for electric vehicles in key markets like the US failed to offset surging demand for energy storage systems. Operating profit stood at 113.3 billion won ($74 million) in the three months ended June 30, South Korea’s largest battery maker said in a regulatory filing Tuesday. That fell short of analyst...

Transportation LG Energy Profit Misses Estimates Amid Slow EV Demand LG Energy Solution Ltd. reported preliminary second-quarter earnings that missed analyst estimates, as lackluster support for electric vehicles in key markets like the US failed to offset surging demand for energy storage systems. Operating profit stood at 113.3 billion won ($74 million) in the three months ended June 30, South Korea’s largest battery maker said in a regulatory filing Tuesday. That fell short of analyst estimates of 210.7 billion won.
LG Energy Profit (ORG) LG Energy Solution Ltd. (ORG) US (LOCATION) South Korea’s (LOCATION)
Originally published by Bloomberg Markets Read original →