[Edaily Reporter Choi Oh-hyun ] SK hynix is set to announce its third-quarter earnings today (the 28th). The company is expected to post its highest-ever quarterly earnings, driven by the boom in artificial intelligence (AI) semiconductors. Market attention is focused on the additional shareholder return measures that will be unveiled alongside the earnings report.

According to financial information provider FnGuide Inc. on the 27th, market forecasts for SK hynix’s third-quarter revenue stand at 98.2257 trillion won, with operating profit at 76.9640 trillion won. These figures represent increases of 301.8% and 576.1%, respectively, compared to the same period last year. Compared to the previous quarter (the second quarter of this year), revenue rose by 23.8% and operating profit by 27.1%. If these forecasts materialize, the company will post record-high earnings for the sixth consecutive quarter.

Analysts attribute the improved performance to expanded supply of High-Bandwidth Memory (HBM) and rising prices for general-purpose memory. Amid growing demand for high-value-added memory driven by increased investments in AI data centers by global tech giants, the company has also begun full-scale supply of HBM4, its sixth-generation HBM. Rising prices for DRAM and NAND flash are also believed to have contributed to the improved profitability.

Market attention is now focused on additional shareholder return measures. SK hynix announced that it will unveil additional shareholder return plans alongside its earnings release on the 28th. The securities industry is paying close attention to the possibility of large-scale dividends and share buybacks using free cash flow (FCF).

In particular, there is discussion of using the capital gains from the sale of its stake in the Japanese semiconductor company Kioxia as a source of funding for a special dividend. Previously, the company completed a share buyback program worth approximately 40 trillion won one month ahead of schedule. The acquired shares are scheduled to be fully canceled on the 5th of next month. Analysts estimate that the funds available for additional shareholder returns amount to over 30 trillion won. Significant attention is focused on the scale and method of these additional shareholder returns.

During the earnings announcement, the outlook for future HBM demand and plans to expand production capacity will also be key points of interest. Attention will also be focused on the current status of HBM4 supplies to NVIDIA, as well as changes in the competitive landscape with SamsungElectronics regarding HBM. With demand increasing not only for HBM but also for general-purpose DRAM and NAND flash, the company is expected to discuss its production strategy and the scale of capital expenditures (CAPEX) for next year. Meanwhile, following the suspension of plans for an initial public offering (IPO) of its subsidiary Solidigm, attention is also focused on how the company will secure the necessary funds for investments in production facilities—including the potential establishment of a U.S. production base—and whether there will be any changes to its future investment strategy.