LS Corp. Reports 2026 Q1 Consolidated Revenue of KRW 9.5 Trillion and Operating Profit of KRW 476.1 Billion... Enhanced Shareholder Returns with Higher Dividends and Share Cancellation

Q1 2026 consolidated revenue reached KRW 9.5044 trillion, operating profit KRW 476.1 billion, and net profit KRW 241.9 billion, up 37.5%, 56.3%, and 71.5% YoY respectively, indicating strong performance.
The copper smelting segment (LS MnM) led with revenue of KRW 4.7844 trillion (50.3% of total), while wire & cable and electric segments recorded KRW 2.0437 trillion and KRW 1.3766 trillion respectively.
Annual dividend per share increased 51.5% to KRW 2,500, with a consolidated payout ratio of 25.25%.
During the quarter, the company cancelled KRW 10.97 billion worth of treasury shares (approx. 500,000 shares), leaving KRW 84.54 billion (approx. 4.35 million shares) at period end.
Net debt-to-equity ratio rose to 120.4% from 102.9% at year-end 2025, increasing financial leverage risk.
Operating cash flow turned negative to -KRW 864.8 billion due to inventory build-up (KRW 795.7 billion) and working capital expansion.
Order backlog stood at KRW 167.39 trillion (post-correction), slightly down from previous period, but major projects like submarine cables and HVDC remain on track.
[AI Final Analysis]LS's Q1 performance improved significantly YoY, but rising net debt and negative operating cash flow pressure financial health. While dividend hikes and share buybacks are positive, heavy reliance on debt could be vulnerable to interest rate fluctuations.