 |
| ▲ Visitors look at products of LG Electronics Inc. displayed at the annual Consumer Electronics Show on its opening day in Las Vegas on Jan. 5, 2022, in this photo provided by the company. The exhibition returned as an in-person event for the first time in two years after only taking place online due to the coronavirus pandemic. (PHOTO NOT FOR SALE) (Yonhap) |
LG Electronics-Q4 earnings guidance
LG Electronics forecast to see record sales in Q4 on strong home appliance biz
SEOUL, Jan. 7 (Yonhap) -- LG Electronics Inc. estimated Friday its fourth-quarter sales reached a record quarterly high, apparently backed by its strong home appliance business, but the operating profit is likely to sink due largely to increased logistics costs.
The company expected to log 21 trillion won (US$17.5 billion) in sales for the September-December period, up 20.7 percent from a year earlier, it said in a regulatory filing.
Operating income, however, likely came in at 681.6 billion won, down 21 percent from a year ago.
If the preliminary results become official, the fourth-quarter sales would represent the largest-ever quarterly performance in the company's history.
On the cumulative basis, the tech company is expected to have earned 74.72 trillion won in sales and 3.86 trillion won in operating profit for 2021.
The fourth-quarter operating profit prediction was 16.2 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Compared with the third quarter, the operating profit likely advanced 26.1 percent, with the sales rising 11.8 percent, according to the estimates.
Friday's guidance did not include breakdown figures for its respective business divisions. LG will release the full earnings results later this month.
(END)
(C) Yonhap News Agency. All Rights Reserved
