LG Energy Solution shares climb despite KOSPI weakness after strong earnings; up 12% in a month [Stock NOW]

[Financial News] LG Energy Solution is continuing its upward trend, buoyed by strong third-quarter earnings, even as South Korea’s stock market weakens.
Shares have risen nearly 12% over the past month, while improved earnings and expectations for growth in its energy storage system (ESS) business appear to be supporting buying interest.
According to the Korea Exchange, as of 9:25 a.m. on the 12th, LG Energy Solution was trading at 410,500 won, up 9,500 won (2.37%) from the previous trading day. The stock is rising even in a weak market, with the KOSPI down more than 1%, and is showing relatively steady performance.
The share price gain over the past month has also been notable. LG Energy Solution shares, which stood at 367,000 won on September 17, topped 410,000 won early in trading today.
That represents a gain of 43,500 won (11.9%) in about a month. The stock has remained strong, rising 4.72% on the 6th and 3.20% on the 8th of this month, and is continuing its upward trend today.
The strong third-quarter earnings, which exceeded market expectations, are cited as a key driver of the share price rise. LG Energy Solution released preliminary third-quarter results on the 8th. On a consolidated basis, revenue was 9.6434 trillion won and operating profit was 756 billion won, up 59.0% and 25.7%, respectively, from the same period a year earlier.
Even excluding the 416.9 billion won in tax-credit benefits under the U.S. Inflation Reduction Act (IRA), operating profit reached 339.1 billion won. The results drew market attention because the company achieved profitability even without the one-off support.
Analysts are also focused on the expansion of the North American ESS market and rising electricity demand from artificial intelligence (AI) data centers. As ESS demand grows with the wider adoption of renewable energy and increased electricity use by data centers, analysts say large new orders will be a key factor in future earnings growth.

[email protected] Kang Jung-mo Reporter