HD Korea Shipbuilding Q3 2026 slides: engine margin hits record despite FX headwinds
HD Korea Shipbuilding & Offshore Engineering (KRX:009540) presented mixed third-quarter 2026 results on October 28, showing strong year-over-year profitability growth tempered by sequential headwinds from foreign exchange volatility and seasonal factors. The company’s earnings presentation revealed operating profit of 1,447.2 billion won, up 37.3% from the prior year, though down 12.0% from the…
HD Korea Shipbuilding & Offshore Engineering reported mixed third-quarter 2026 results on October 28, 2026, with operating profit rising 37.3% year-over-year to 1,447.2 billion won, yet falling 12.0% sequentially to 8,286.2 billion won. The company's stock fell 2.03% to 241,500 won, nearing the low end of its 52-week trading range.
Despite beating earnings per share forecasts, revenue slightly missed expectations, and net income declined 51.3% quarter-over-quarter to 777.0 billion won due to a sharp swing in non-operating items. The presentation emphasized record engine profitability, a turnaround in the offshore plant, and order momentum exceeding the full-year target by September's end.
The company attributed the sequential decline to fewer working days, one-off wage settlement costs, and foreign exchange volatility.
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