Q2 2026 Posco Holdings Inc Earnings Call Transcript
Key Points
- POSCO Holdings Inc (PKX) recorded consolidated revenue of $19.3 trillion and $820 billion in operating profit, maintaining a rising profit curve.
- The rechargeable battery materials sector turned to a surplus for the first time in nine quarters, driven by the Argentina lithium business achieving its first-ever quarterly profit.
- Steel-making affiliate POSCO saw a $60 billion gain in operating profit over the previous quarter, driven by increased production and sales volume.
- POSCO International recorded its highest quarterly operating profit, driven by growth in energy and materials segments.
- Restructuring efforts generated 475.4 billion won in additional cash in the first half, with plans to generate 3.5 trillion won in free cash flow by 2028.
- The Middle East conflict triggered energy supply risks and a weakening Korean won, creating business headwinds.
- A fatality occurred at POSCO ENC, highlighting ongoing safety management challenges.
- The third quarter may see a temporary slowdown in the rechargeable battery materials sector due to seasonal factors and equipment repairs in Argentina.
- POSCO Pilbara Lithium Solution faces profit pressures in the second half due to unfavorable price spreads between spodumene and lithium hydroxide.
- European quota reductions and anti-dumping tariffs on steel products pose risks to export volumes and profitability.
Greetings, everyone.
Thank you for coming to attend the conference call for PUSCO Holdings earnings release. Today, we will have a presentation from PUSCO Holdings first, and then we will have a Q&A with all of you. For those who wish to ask a question, please press star 1.
So now I'd like to begin the PUSCO Holdings 2026 second quarter earnings release.
Greetings, everyone. I'm Head of Finance and IR Division at POSCO Holdings. My name is Kim Seungjun. Despite the harsh heat, thank you for attending the second-quarter earnings for POSCO Holdings. My sincere thanks go to the investors and the analysts.
In the second quarter, the Middle East conflict triggered energy supply risk intensified, while the Korean won continued to lose value. Business faced headwinds.
Nevertheless, Posco Holdings recorded consolidated revenue of $19.3 trillion and $820 billion in OP, keeping the rising profits curve.
Gains were recorded against previous quarter in all key sectors
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