LG Energy Solution flags 77% fall in Q2 operating profit on continued weak EV demand

South Korean battery maker LG Energy Solution KRX:373220 said on Tuesday it expects April-June operating profit to fall 77% to 113 billion won ($73.91 million), as sluggish electric vehicle (EV) demand continued to weigh on battery sales.

That compared with an LSEG SmartEstimate forecast of a 249 billion won profit, which is weighted toward analysts who are more consistently accurate.

($1 = 1,528.9000 won)