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LS Eco Energy · 229640 · Holding companies
LS Eco Energy Q3 Preliminary Earnings: Operating Profit Up 50.2% Year on Year, Down 12.2% on the Quarter
LS Eco Energy reported preliminary Q3 2026 consolidated operating profit of ₩22.2B, up 50.2% from a year earlier but down 12.2% from Q2. The earnings support the growth story, while the model's fair value estimate has fallen sharply to a base of ₩4,239 per share from ₩34,058.
Written Oct 20, 2026 · Data as of Oct 19, 2026 · 0 views
This is not financial advice. The report does not recommend buying or selling anything.
What happened
On 2026-10-20 the company filed preliminary consolidated results for July to September 2026. The figures are provisional and may differ from final numbers.
Revenue was ₩351.5B, up 51.0% year on year and up 0.4% from Q2 (₩350.3B). Operating profit was ₩22.2B, up 50.2% from ₩14.8B a year earlier but down 12.2% from ₩25.3B in Q2. That implies an operating margin of about 6.3% in Q3 (calculated from the filed figures).
Pre-tax profit from continuing operations was ₩18.1B, up 25.6% year on year and down 24.6% on the quarter. Net profit was ₩14.0B, up 24.8% year on year and down 26.7% on the quarter. Profit attributable to owners of the parent was ₩12.4B, up 25.5% year on year and down 27.2% on the quarter.
For the first nine months, revenue was ₩987.3B (up 38.8%), operating profit ₩67.5B (up 25.8%) and net profit ₩47.4B (up 12.4%).
The share price closed at ₩57,900 on 2026-10-19, before the filing, down 4.3% over one month.
Every earlier JONBUR Research report and update note on LS Eco Energy, with Pro.
Unlock with ProModel estimate of fair value
- Bear
- ₩0
- -100%
- Base
- ₩4,239
- -92%
- Bull
- ₩20,343
- -61%
Model estimate based on the assumptions shown. Not a price target and not a buy or sell signal.
Base case of the 5-year discounted cash flow model on the stock's Valuation tab (statements TTM to H1 2026; discount rate 8.2%). Bear and Bull move the main assumptions by fixed steps. See and change the assumptions
Filings and data used
- Preliminary earnings (consolidated)Oct 20, 2026
- Amended: Acquisition of shares in another companyOct 15, 2026
- 5%+ holding reportOct 2, 2026
- Acquisition of shares in another companySep 30, 2026
- Disclosure on Large Business Group Status [Quarterly Disclosure (For Individual Company)]Aug 28, 2026
- Half-year report (Jun 2026)Aug 14, 2026
- Matters Concerning Payment Amounts by Payment Method and Payment Period, and Dispute Mediation BodiesAug 14, 2026
- Amended: Preliminary earnings (consolidated)Aug 5, 2026
- Preliminary earnings (consolidated)Aug 5, 2026
- Results of Rights Offering or Issuance of Equity-Linked Bonds, etc. (Voluntary Disclosure)Aug 4, 2026
- Decision on Guarantee of Debt for Another PartyJul 27, 2026
- Decision to Acquire Equity-Linked BondsJul 27, 2026
- LS Eco Energy Q3 Operating Profit KRW 22.1B, Up 50.2% YoY [Disclosure]Oct 20, 2026
- Daily prices up to 2026-10-19
- Financial statements, trailing 12 months as of H1 2026
- Our fair value model, statements as of TTM to H1 2026
Report history
- Oct 21, 2026Update noteModel fair value changeLS Eco Energy: Model Fair Value Estimate Rises to ₩21,813 Base Case From ₩4,239
- Oct 20, 2026Update noteEarningsLS Eco Energy Q3 Preliminary Earnings: Operating Profit Up 50.2% Year on Year, Down 12.2% on the Quarter
- Oct 13, 2026InitiationStart of coverage (300 largest)LS Eco Energy: Sharp Share Price Rally and Rising Profits, With a Valuation Well Above the Model Estimate
Source: KRX statistical information