Investors cheered the stronger-than-expected and record third-quarter earnings of LG Energy Solution, with shares on Oct. 8 rising 5.12 percent to 411,000 won as of 9:31 a.m. The stock is up about 41 percent from its low of 290,500 won in late July.
Third-quarter operating profit of 756 billion won was more than double the 326.4 billion won average forecast compiled by FnGuide. U.S. advanced manufacturing tax credits made up 416.9 billion won of that profit. Without them, operating profit was 339.1 billion won, compared with a loss of 127.7 billion won in the second quarter.
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