How did LG Energy Solution perform in March?

March-quarter revenue and operating profit for LG Energy Solution, or LGES, were both weaker than we expected. Management attributed the revenue decline to weak battery demand from electric vehicle, or EV, and energy storage makers and a fall in battery prices due to the lithium price drop.

Does lges make EV batteries?

Besides EV batteries, LGES also manufactures batteries for mobility, mobile phones, laptops, electrical devices, and energy storage systems. The company was spun off from LG Chem’s battery division in December 2020 and listed on the Korea Exchange in January 2022.

Is lges a good stock to buy?

LGES ranks among the industry’s worst performers on profitability, posting losses in both 2019 and 2020. Last year it reported an operating margin of 5.9 per cent, less than half of CATL’s estimated 12.5 per cent, according to SK Securities.