SK Innovation reported consolidated Q1 2026 operating profit of $1.45B, turning profitable from a year-ago operating loss of -$20.6M, according to a regulatory disclosure filed with DART on May 13, 2026.
Results at a Glance
Revenue, operating profit, and net income all improved substantially year-over-year. Operating profit also surged 632% compared to the prior quarter (Q4 2025).
- Revenue: $16.3B, +15.2% YoY, +23.1% QoQ
- Operating Profit: $1.45B, turned profitable YoY (vs. -$20.6M a year ago), +632.0% QoQ
- Net Income: $602M, turned profitable YoY (vs. -$84.4M a year ago)
- Net Income Attributable to Controlling Shareholders: $648M, turned profitable YoY (vs. -$154M a year ago)
Market Reaction
Media coverage has pointed to elevated oil prices and inventory valuation gains — whereby rising crude prices boost the book value of existing stockpiles, lifting reported profits — as the primary drivers of the rebound. Korea Economic Daily cited inventory effects and export growth as key contributors, while JoongAng Economy News highlighted a recovery in the refining business. IBK Securities had pre-emptively raised its target price, forecasting an earnings surprise. Invest Chosun estimated that combined first-half operating profit could reach the $2.0B+ range, while also flagging a potential windfall tax discussion — as seen during previous high-oil-price cycles — as a risk factor. Korea Financial News noted that a portion of the results appears to be underpinned by one-time factors.
This article was automatically generated based on the original DART regulatory filing and domestic and international news reports. It is intended solely for the rapid delivery of key data immediately following the announcement. Readers are advised to consult the company's official disclosure before making any investment decisions.
