LG Energy Solution Q1 2026 Results Show Revenue Growth and Battery Order Expansion
LG Energy Solution reported Q1 2026 revenue of KRW 6.6 trillion, up 1.2% quarter on quarter, while posting an operating loss of KRW 207.8 billion.
The results were supported by stable demand for cylindrical EV batteries and growing energy storage system demand, particularly in North America. ESS now accounts for mid 20% of total revenue.
During the quarter, the company secured over 100GWh of new orders for its 46 series cylindrical EV batteries, increasing its total backlog to over 440GWh. Production of these batteries is expanding across facilities including Arizona.
LG Energy Solution has also established a North American ESS production network with five facilities and aims to reach over 50GWh capacity by the end of the year.
The operating loss was driven by initial costs related to ESS expansion and a shift in product mix due to lower pouch type battery sales.
The company plans to focus on cash flow management, supply chain stability and next generation battery technologies including solid state and sodium ion.
Leave a comment