According to regulatory filings, the company's revenue rose 39.7 percent to 28.77 trillion won, while net profit came to 2.64 trillion won, swinging from a 94.3 billion won loss a year earlier.
From the second quarter, operating profit rose 6.2 percent while revenue slipped 1.3 percent. The company attributed the changes to lower run rates at Middle Eastern refineries and Russian curbs on diesel exports tightening global fuel supplies and lifting export margins.
Refining unit SK Energy raised operating profit by 554.6 billion won from the previous quarter to 1.21 trillion won.
Lubricant unit SK Enmove earned 1.09 trillion won, its highest quarterly figure, as base oil spreads stayed high.
Battery unit SK On posted an operating loss of 80.5 billion won on lower sales, after one-off gains had lifted it to a profit in the second quarter.
SK On said it is prioritizing the conversion of production lines to energy storage systems (ESS).
"We are actively in talks for additional orders and are securing a range of business plans based on our non-Chinese supply chain and local production capacity," Kim Young-kwang, head of financial management at SK On, said during an earnings call.
"We plan to flexibly adjust output in line with order volumes and each customer’s supply schedule."
Power and liquefied natural gas unit SK Innovation E&S raised operating profit by 668.5 billion won to 774.4 billion won.
The company expects refining conditions to stay strong in the fourth quarter on maintenance shutdowns, export restrictions in major producing countries and winter demand. It also said base oil spreads would gradually narrow if global supply disruptions ease.
Shares of SK Innovation traded at 130,800 won per stock, down 6.44 percent from the day before.
AJP Takeaways
- SK Innovation reported a preliminary third-quarter 2026 operating profit of 3.7 trillion won on Oct. 29, 2026, up 532.5 percent from a year earlier and 6.2 percent from the second quarter.
- SK Energy's operating profit rose to 1.21 trillion won on stronger fuel export margins, and SK Enmove posted a record quarterly operating profit of 1.09 trillion won on high base oil spreads.
- Battery unit SK On swung to an 80.5 billion won operating loss in the third quarter, while SK Innovation said it expects refining conditions to remain strong in the fourth quarter.
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