# LG Energy Solution Releases 2026 Third-Quarter Financial Results - Link: https://www.thailand-business-news.com/pr-news/lg-energy-solution-releases-2026-third-quarter-financial-results - Published: 2026-11-03T08:45:00+07:00 - Author: PR Newswire ◦ LG Energy Solution posts KRW 9.6 trillion in consolidated revenue and KRW 756 billion in operating profit in Q3 2026 ◦ Secures new BTM BESS project and high-voltage mid-nickel Gen2 volumes, expanding opportunities across ESS and EV markets ◦ Targets over 70 GWh of ESS battery capacity and over 20 GWh of cylindrical battery capacity in North America by end-2027 SEOUL, South Korea, Nov. 3, 2026 /PRNewswire/ — LG Energy Solution (KRX: 373220) today announced its third-quarter earnings for 2026, highlighted by strong ESS growth and continued progress in expanding localized production and supply chain capabilities across key markets. The company posted consolidated revenue of KRW 9.6 trillion, a 27.6% increase quarter- on-quarter. The revenue includes the North America production incentive of KRW 416.9 billion, reflecting volume growth led by increased ESS shipments in the region. The operating profit was KRW 756 billion, with the operating profit margin at 7.8%. Quarterly revenue growth was driven by a significant increase in ESS shipments, higher EV pouch-type battery shipments led by high-voltage mid-nickel products, and continued solid supply of 21- and 46-Series cylindrical batteries for EVs. Q3 operating profit also improved, supported by improved plant utilization in Europe, continued growth in cylindrical battery volumes, and eased fixed-cost burden from the gradual stabilization of ESS capacity in North America. **Q3 Progress** In Q3, LG Energy Solution secured new ESS projects, and increased volumes and extended supply periods under existing EV contracts, while strengthening its operations and supply chain capabilities to better respond to growing customer demand. ◦ (ESS) Secured its **first direct-supply Behind-the-Meter (BTM)[1] BESS project for a big tech customer, **demonstrating reliable local supply of non-PFE[2] products and opening opportunities for additional AI data center projects where supply chain security is critical. LG Energy Solution also qualified as an NVIDIA DSX Ready BESS partner, supported by its high-capacity LFP[3]-based AC Link solution and in-house system integration capabilities. ◦ (EV) Increased volumes and extended supply periods under existing contracts for cost-competitive **high-voltage mid-nickel Gen2 products**, securing a stable revenue base in Europe. ◦ (Operation) Strengthened ESS supply capabilities through completion of new link production line (Arizona) and phased expansion of pack production capacity (Ohio), while solid customer demand improved Poland plant utilization. The company’s North American JV (GM JV) plant also resumed operations. ◦ (Supply chain) Diversified LFP cathode suppliers for non-PFE compliance and secured long-term supplies of key North American raw materials, including lithium concentrate and lithium carbonate, strengthening local sourcing and supply security. **Market Trends and Strategic Direction ** [North America] ◦ In the U.S., an executive order to enhance power grid security and reduce reliance on equipment from designated foreign entities that pose national security risks continues to support demand for locally produced ESS. LG Energy Solution plans to convert additional EV pouch-type battery lines to ESS production and secure new prismatic ESS production lines, **expanding ESS capacity in North America to over 70 GWh by end-2027**. ◦ LG Energy Solution plans to begin U.S. production of 46-Series cylindrical batteries by end-2026 and add tabless 2170 lines for HEVs starting in 2027, **expanding cylindrical battery production capacity in North America to over 20 GWh by end- 2027.** [Europe] ◦ Proposed IAA[4] revisions emphasizing regional production and expanding autonomous driving approvals are strengthening local manufacturing advantages and EV momentum in the EU. LG Energy Solution plans to **secure local production lines for 46- Series cylindrical batteries by 2029**, enabling local supply of both pouch-type and cylindrical batteries. [Asia] ◦ LG Energy Solution plans to lay the groundwork for entering new markets by developing and producing new products at its mother factory in Korea. The company aims to produce sodium-ion battery samples within this year for proof-of-concept testing with a key ESS customer, while expanding into new applications with high-power LFP 2170 batteries starting next year. [Supply Chain] ◦ Rising oil and natural gas prices and stabilizing battery raw material prices are improving battery cost competitiveness from a TCO[5] perspective and reducing cost burdens. LG Energy Solution plans to increase direct metal purchasing and expand supply of key materials to suppliers for greater operational flexibility, while leveraging mid- to long-term volumes to strengthen raw material procurement competitiveness. ◦ The company will build resilient supply chains for regional regulations by expanding its North American non-PFE LFP cathode supplier base to four or more suppliers, localizing key materials and components in Europe, and developing non-PFE supply chains for next-generation products, including sodium-ion and LMR[6] batteries. #  #  # **About LG Energy Solution** LG Energy Solution (KRX: 373220) is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With more than 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 100,000 patents. Its robust global network, which spans North America, Europe, and Asia, includes battery manufacturing facilities established through joint ventures with major automakers. Committed to building a sustainable battery ecosystem, LG Energy Solution aims to achieve carbon neutrality across its value chain by 2050, while embodying the value of shared growth and promoting a diverse and inclusive corporate culture. To learn more about LG Energy Solution’s ideas and innovations, visit [https://news.lgensol.com](https://news.lgensol.com/). | [1] Behind-the-Meter (BTM): power consumption (e.g. commercial facilities, industrial plants) | | [2] Non-PFE: non-prohibited foreign entity | | [3] LFP: lithium iron phosphate | | [4] IAA: Industrial Accelerator Act | | [5] TCO: total cost of ownership | | [6] LMR: lithium manganese-rich |   --- | This article was produced by Cision PR Newswire, our trusted news partner. The views expressed and the content presented here are solely those of the author and may not fully reflect the opinions of Thailand Business News. | --- **Read the original article :** [LG Energy Solution Releases 2026 Third-Quarter Financial Results ](http://www.prnasia.com/story/archive/5087418_CN87418_0?rand=184833)