Hanwha Systems (272210) reported Q1 2026 operating profit of $23.1M, up 1.9% year-over-year but below market consensus. The company swung to a net loss of $64.3M. (Source: DART Quarterly Report 2026.03)
Earnings at a Glance
Operating profit edged higher but fell short of expectations. The swing to a net loss is the key variable in this quarter's results.
- Operating profit: $23.1M, +1.9% YoY (below market consensus)
- Net loss: $64.3M (swung to a loss vs. prior-year profit)
Market Reaction
Major outlets including Yonhap Infomax characterized the results as a consensus miss. Eugene Investment & Securities raised its target price by 109%, citing broad-based improvement across shipbuilding, space, and defense segments. Analysts covering Hanwha Aerospace noted that improving performance at Hanwha Ocean and Hanwha Systems is structurally lifting group-wide earnings capacity.
Segment Breakdown
The following segment revenue breakdown is based on DART regulatory filings. (Unit: KRW millions, share as % of total)
- Defense (radar, C2, electro-optics, etc.): KRW 471,211M (~$316.7M), 58.4% of revenue
- ICT (systems integration, IT outsourcing, etc.): KRW 172,345M (~$115.8M), 21.3% of revenue
- Overseas (shipbuilding, space, and subsidiaries): KRW 164,551M (~$110.6M), 20.4% of revenue
- Inter-segment eliminations: △KRW 1,008M
- Total: KRW 807,099M (~$542.4M)
This article was auto-generated based on DART regulatory filings and domestic and international news reports. It is intended for rapid delivery of key data immediately following earnings releases. Readers are advised to consult the company's official filings before making any investment decisions.
