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LG Energy Solution Swings to Loss in Q2, Revenue Jumps; Shares Rise 6%

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LG Energy Solution (KRX:373220) swung to a net loss of 328.6 billion won in the second quarter from a net income of 90.6 billion won in the year-ago period, according to a regulatory filing on Thursday.

Sales rose 25% to 7.56 trillion won in the June quarter from 6.06 trillion won a year earlier, which included a 241 billion won North America production incentive, and rose quarter-on-quarter, supported by higher energy storage system (ESS) shipments.

Shares of LG Energy Solution added nearly 6% in recent trade.

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