LS Electric posted its best-ever quarterly results in the third quarter and became the first company in its industry to log 100 consecutive profitable quarters.
The company reported revenue of 1.88 trillion won ($1.3 billion) and operating profit of 233.5 billion won ($163 million) for the third quarter, according to a regulatory filing on the 21st. Revenue rose 54.4% and operating profit climbed 131.7% from a year earlier, both quarterly records. It was the first time quarterly operating profit topped 200 billion won.
The results extend LS Electric's streak of operating profits to 100 quarters, running from the fourth quarter of 2001 through the third quarter of this year. Only 12 of South Korea's 500 largest companies by revenue have strung together 100 profitable quarters. The company attributed the run to a diversified business portfolio and a sustainable earnings structure that held up through a global downturn and shifts in its industry.
The third-quarter figures also marked a sharp earnings beat. Analysts had expected revenue of 1.69 trillion won and operating profit of 194.5 billion won, according to the consensus estimate from major brokerages.
The strong showing was driven by an expansion in high-margin projects, including power solutions for AI data centers and ultra-high-voltage transformers. Revenue from switchgear, the company's mainstay product, surged 120% from a year earlier, while ultra-high-voltage transformer revenue grew 106%.
Overseas, North America stood out. Third-quarter revenue in the region reached about 500 billion won, up roughly 25% from the previous quarter and the highest on record. LS Electric is increasing investment at its main local production sites, including LS Electric Utah and the Bastrop campus in Texas, to meet surging demand for power infrastructure in North America.
The order backlog stood at about 7 trillion won at the end of the third quarter, with new orders of roughly 1.6 trillion won over the three-month period. An LS Electric official said the 100-quarter streak was a meaningful record built on a solid portfolio spanning low- and medium-voltage distribution through ultra-high-voltage transmission, steady investment in new businesses and expansion into global markets. The official added that with a stable earnings base and order growth accelerating on an AI-driven power infrastructure supercycle, the company would open an era of long-term high growth.