[Edaily Reporter Kim Kyung-eun ] SKCHEMICALS(285130)is trading higher in early trading on the 14th, buoyed by strong second-quarter earnings.
A view of SKCHEMICALS’ Pangyo headquarters. (Photo courtesy of SKCHEMICALS)
According to MP Doctor, as of 9:15 a.m. today, SKCHEMICALS is trading at 48,950 won, up 5,100 won (11.63%) from the previous trading day.
This is seen as a result of the company recording its highest-ever quarterly revenue in the second quarter of this year, which has boosted investor sentiment.
SKCHEMICALS announced yesterday that it posted second-quarter revenue of 745.1 billion won and operating profit of 32.3 billion won. Revenue increased by 24.8% compared to the same period last year. This marks the company’s highest quarterly revenue since it was spun off as a business unit following the launch of SK Discovery Co.,Ltd. in 2017. Operating profit turned to a surplus compared to the first quarter, when the company posted a loss of 18.9 billion won.
The securities industry expects this strong performance to continue into the third quarter.
Cho Hyun-ryeol, an analyst at SamsungSecurities, commented on the third-quarter earnings, stating, “Operating profit is expected to exceed the consensus estimate by an additional 19%.” He added, “For the GREEN CHEMICAL business, further profit growth is anticipated as one-time costs from the previous quarter have been eliminated, and SK Multi-Utility is expected to maintain significantly improved profit levels.”
He added, “As we approach the end of the year and the 2027 shareholders’ meeting, interest in companies with high asset value discount rates is expected to grow,” and noted, “We maintain our ‘Top-pick’ rating for small- and mid-cap stocks within the sector.”
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