Nexteel's Q1 2026 Earnings Plunge Amid US Tariffs and Legal Risks

Consolidated Q1 2026 revenue of KRW 100.6bn, operating profit of KRW 2.7bn, net profit of KRW 2.8bn, sharply down from annual levels.
Debt ratio rose to 58.65% from 50.71% at year-end 2025, increasing financial burden.
Domestic welded steel pipe market share fell to 7.4% (from 9.6% in 2025 to 7.4% in Q1 2026).
US steel tariffs under Trump administration heighten export uncertainty; US subsidiary Nexteel USA LLC posted a KRW 2.7bn loss.
A CAD 255bn (approx.) damage claim lawsuit from a Canadian company is ongoing, posing contingent liability risk.
Interim dividend of KRW 1,155 per share was paid in 2025, but no year-end dividend; 2026 dividend policy uncertain.
Management changes (chairman and CEO resigned, co-CEO system adopted) and continued investment in new facilities (Roll bending, etc.).