HD Korea Shipbuilding’s Third-Quarter Revenue Reaches 8.2862 Trillion Won

Key Facts

HD Korea Shipbuilding & Offshore Engineering reported consolidated revenue of 8.2862 trillion won in the third quarter of 2026, up 9.3% year on year, according to Chosun Biz. Revenue and operating profit fell short of estimates published by FnGuide, while net profit was below the average forecast from Yonhap Infomax. The results were mixed: operating activity grew from a year earlier, but the company did not meet market estimates. The company announced that it would present its third-quarter results to investors on Oct. 28, 2026, at 14:00 Korea time, according to disclosure data published via Digital Today. On the same day, the shares closed up 1.22% at 249,500 won, according to historical data from Investing.com.

Shipbuilding was the strongest-performing segment among those for which the company reported results, with revenue of 6.8393 trillion won, up 10.3% year on year, and operating profit rising 32.3% to 1.1453 trillion won, according to Chosun Biz. The figures show an improvement in the segment’s revenue and operating profitability compared with the third quarter of the previous year. However, year-on-year growth in revenue and operating profit did not prevent the company’s overall results from falling short of FnGuide estimates. Net profit was also below the average analyst forecast from Yonhap Infomax, a separate measure from operating profit. The comparison with forecasts therefore did not yield a single verdict across all performance measures, but covered different financial metrics and different forecast benchmarks.

The company attributed the improvement to higher revenue from productivity gains and rising ship prices, alongside strong performance in its engine and machinery and offshore plant segments, according to Chosun Biz. It said this was achieved despite fewer working days due to seasonal factors and the impact of exchange-rate fluctuations. The engine and machinery segment posted revenue of 1.2012 trillion won and operating profit of 290.1 billion won during the quarter. Revenue in the offshore plant segment rose 35.4% year on year to 379.8 billion won, and the segment returned to operating profit. These results link the company’s account of improved productivity and pricing to its segment performance, while operational and pricing factors continued to affect the period.

A company official said, "The performance of our core segments and ongoing productivity improvements helped us maintain strong profitability." The company added that it would continue to improve productivity and selectively pursue orders focused on high-value-added ships. Second-quarter results provide context for comparison: revenue then rose 20% year on year, and operating profit climbed 73%. The shipbuilding segment’s margin was also 18.8% that quarter, up 5.9 percentage points year on year, according to Investing.com’s results page. The growth rates reported for the second quarter differ from those for the third quarter, placing the latest quarter’s improvement within the company’s published performance during the year.

The company had recorded orders worth $16.38 billion in the first half of 2026, equivalent to 96.2% of its annual target, while its order book exceeded 500 ships, according to the second-quarter investor presentation as reported by Investing.com. These figures put the volume of orders booked and the order book in the context of the company’s plans for selecting orders, including high-value-added ships. On forecasts, Investing.com’s results page showed an estimated revenue of 8.47 trillion won for the quarter ended in September, compared with listed revenue of 8.42 trillion won, and recorded a negative revenue surprise of 0.63%. That comparison applies to the figures shown on that page, while Chosun Biz reported consolidated revenue of 8.2862 trillion won and Yonhap Infomax compared net profit with the average analyst forecast. After presenting its results on Oct. 28, the company said it would continue to improve productivity and selectively pursue orders focused on high-value-added ships.