Hyundai Motor reported a 5.5% increase in third-quarter operating profit, exceeding analyst forecasts. However, the company lowered its annual financial outlook and its 2026 sales and profit margin targets due to an ongoing profit slump. Despite the operating profit growth, the third-quarter net profit fell significantly short of market expectations.
The outlook revision followed an 11.3% drop in global wholesale sales in the third quarter, as the company announced a per-share dividend and outlined its plan for the next quarter.
Read the full storyThe company kept its revenue growth target at 1–2% despite declines in third-quarter revenue and net profit, while operating profit rose on product mix and exchange rates.
The guidance cuts came alongside a reduction in the auto division’s investment plan to 16 trillion won, while third-quarter operating profit topped LSEG’s 2.4 trillion won estimate.