POSCO Holdings reported Q2 2026 consolidated revenue of KRW 19.3 trillion and operating profit of KRW 820 billion, driven by a first-ever profit from its Argentina lithium operation.
POSCO Holdings reported consolidated revenue of KRW 19.3 trillion for the second quarter of 2026, with operating profit of KRW 820 billion. The company's Argentina lithium operation turned its first quarterly profit, a milestone the steel-to-energy group has been working toward for years.
Revenue and profit rose from the first quarter across the three main segments: steel, battery materials and energy. The rechargeable battery materials business, or RBM, improved overall. The energy segment also contributed to the gain.
CEO Kim Seung-Jun said on the earnings call that the Middle East conflict raised energy supply risk and the Korean won remained weak, creating headwinds. Still, the company kept an upward profit curve. “We recorded operating profit of KRW 820 billion, a gain from the first quarter,” he said. “Most notable is our Argentina lithium business that turned a first-ever quarterly profit.”
Analysts on the call included representatives from Hyundai Motor Securities, KB Securities and Shinhan Investment. They asked about lithium pricing and the outlook for battery materials. The company did not provide formal guidance on the call but noted that the RBM segment had a general recovery.
The Korean won has been under pressure this year, and the Middle East conflict has added volatility to energy costs. For a company that imports coking coal and iron ore and exports steel and battery materials, currency moves can swing the bottom line. The CEO acknowledged the headwinds but focused on the sequential improvement.
Steel volumes showed a modest increase, and the downstream businesses contributed. POSCO Holdings’ steel subsidiary, POSCO, remains the largest driver of group profit. The battery materials segment, which struggled in 2024 and early 2025, appears to be stabilizing.
The Argentina lithium project has been a focus for investors. It started production in 2024 and has now reached profitability. The company did not disclose a specific dollar amount for the lithium profit, calling it the first quarterly profit for that operation.
AlphaScala’s Alpha Score for PKX stands at 54 out of 100, reflecting a mixed outlook in the Basic Materials sector. The score suggests the stock is neither heavily positioned for a breakout nor showing signs of distress.
The earnings call took place July 30 at 2:00 a.m. Eastern Time. A replay is available on the company’s investor relations page.
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