The South Korean conglomerate reported Tuesday through regulatory filings consolidated revenue of 3.88 trillion won ($2.63 billion) for the January to March period, up 25.4 percent from a year earlier, while operating profit climbed 205.5% year-on-year to 92.6 billion won — marking its first profitable quarter since the second quarter of 2025.
The renewable energy division, operating under the Qcells division, led the charge with revenue of 2.111 trillion won and operating profit of 62.2 billion won. The unit logged its second consecutive quarter above the 2-trillion-won revenue threshold, even during a traditionally slow season, as U.S. factory output normalized following the resolution of a customs clearance backlog on cell shipments that had weighed on output late last year.
The chemicals division returned to profit for the first time in about two and a half years, posting revenue of 1.340 trillion won and operating profit of 34.1 billion won. The unit shed loss-making businesses, streamlined production lines, and expanded sales of high-margin products such as ultra-high-voltage cable materials.
"We expect performance to improve steadily through year-end, and anticipate that the Cartersville plant's cell line will enter mass production from the third quarter, driving solid earnings momentum in the renewable energy division," co-CEOs Park Seung-deok and Nam Jung-woon said in a statement.
Shares of Hanwha Solution ended at 50,800 won per stock, 1.2 percent higher than a day ago.
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