POSCO Holdings Inc (005490.KS) Q2 2024 Earnings Report

In Q2 2024, POSCO Holdings Inc reported a revenue of KRW 18.51 trillion, reflecting a modest QoQ increase of 2.5% driven by robust performance in the steel segment and infrastructure improvements. Operating profit surged by 29% to KRW 752 billion, supported by the sale of high-margin automotive steel plates and an uptick in infrastructure profits. Despite challenges in the market with ongoing fluctuations in raw material prices and a slight decline in net income, management remains cautiously optimistic about future profitability, citing operational improvements and strategic investments in the Rechargeable Battery Materials segment as key growth drivers. The net debt-to-equity ratio decreased to 15.9%, underscoring a healthier balance sheet as the company continues its restructuring processes aimed at enhancing long-term growth and profitability.