LG Energy Solution announced that its operating profit in the third quarter is expected to rise by about 34 %. The jump comes after the company posted a strong sales performance for its electric‑vehicle battery and energy‑storage businesses.
The firm said last month that it expects Q3 earnings before interest, taxes, depreciation and amortization (EBITDA) to climb from $4.5 billion in 2022 to roughly $6.0 billion. That growth is driven by higher demand for its high‑grade batteries used in cars and home storage systems, as well as an overall increase in the size of the battery market worldwide.
“We’re seeing a clear rebound in the battery sector and our margins are improving,” said a company spokesperson. “This is reflected in our fourth‑quarter outlook and looks to be sustained into the next year.”
Key points
- Q3 operating profit up 34 % – from $4.5 billion to about $6.0 billion.
- Strong battery sales – fueled by rising electric‑vehicle adoption.
- Positive margin trend – thanks to scaling production and better cost control.
- Industry context – the global push for clean energy keeps battery demand high.
Analysts note that LG Energy Solution now competes closely with rivals like Samsung SDI and CATL for the biggest share of the electric‑vehicle battery market. With its financial outlook looking solid, the company is positioned to support the continued shift toward electric mobility and renewable energy storage.
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