LS Corp. is experiencing a decline in stock prices for the second consecutive day due to the impact of a revised quarterly report. As of 2:07 PM on May 28, the company’s shares were trading at 458,500 won, down 9.74% (49,500 won) from the previous trading day. This follows an 8.14% drop in the stock market the day before, indicating a continuing downward trend.
The recent decline is attributed to a correction in the first-quarter order backlog figures. LS announced on May 27 that it would reissue its quarterly report to correct some calculation errors made in the report submitted on May 15.
Following the revision, LS's total order backlog decreased from 18.2681 trillion won to 16.7390 trillion won, a reduction of approximately 1.5291 trillion won. The company stated that this change was due to a simple clerical error.
The order backlog is considered a key indicator for predicting future revenue and performance, and the correction has negatively affected investor sentiment. Notably, the stock price had surged in the short term following the previous report due to heightened expectations for orders, leading to a reversal of those gains.
Market analysts view this adjustment not as a sign of deteriorating performance or a fundamental issue with the orders themselves, but rather as a temporary decline in confidence and supply-demand instability resulting from the correction process. However, since the order backlog is directly linked to future performance visibility, investors are keen to monitor upcoming disclosures and performance trends to assess the resolution of uncertainties.
* This article has been translated by AI.
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