- LG Energy Solution posts KRW 6.6 trillion in consolidated revenue and KRW 207.8 billion in operating loss in Q1 2026
- In Q1, the company secured over 100GWh of new orders for its 46-Series cylindrical EV batteries, with the order backlog exceeding 440GWh as of April
- Its North American ESS battery production network is now in place, with the aim to achieve more than 50GWh production capacity by year-end
SEOUL, South Korea, April 29, 2026 /PRNewswire/ — LG Energy Solution (KRX: 373220) today announced its first-quarter earnings for 2026, reporting an increased quarterly revenue mainly driven by stable demand and solid orders for both 46-Series cylindrical EV batteries and ESS batteries.
The company posted consolidated revenue of KRW 6.6 trillion, a 1.2 percent increase quarter-on-quarter. The revenue includes the North America production incentive, which is estimated at KRW 189.8 billion. The operating deficit stood at KRW 207.8 billion.
In the first quarter, shipment of pouch-type EV batteries declined due to inventory adjustments by a major North American customer. However, stable shipments of cylindrical EV batteries and active response to growing North American ESS demand through capacity expansion resulted in a slight quarter-on-quarter increase in the revenue, with the ESS business now representing mid-20 percent of the total revenue.
At the same time, despite increase in shipments of both cylindrical EV and ESS batteries and ongoing cost-reduction efforts, the company posted a quarterly loss, driven by initial ramp-up costs associated with the expansion of ESS production sites and deterioration of product mix resulting from reduced sales of pouch-type EV batteries in North America.
- Q1 Achievements