On the 7th, L&F announced that it recorded sales of 885 billion won and operating profit of 20.8 billion won for the second quarter of 2026. Sales increased 20% quarter-over-quarter and 70% year-over-year. The company explained that while the operating profit included one-time items such as initial costs for new businesses and inventory valuation losses, the operating profit margin of the NCM cathode material division recovered to mid-single-digit levels excluding these items.

  

This quarter's results were driven by continued sole supply of Ultra-HINI products and increased sales of 46-format cylindrical products to new North American customers. The 46-format products are reported to have recorded sales volumes exceeding initial year targets. In the third quarter, a new single-crystal high-nickel project will be additionally launched, and the company forecasts that annual NCM shipments will significantly exceed initial plans. L&F stated, "With continued sole supply of Ultra-HINI coupled with the addition of new single-crystal projects, we expect to set a new record for maximum quarterly shipments."

 

 

In the LFP division, after completing sample shipments to multiple customers, the company plans to begin full-scale North American ESS market deliveries from late Q3. As customer demand exceeds initial projections, LFP shipments this year are also expected to exceed early-year targets, and the company forecasts that stable shipments of 50,000 tons or more will be possible in 2027. In addition, the company recently secured new customers for the U.S. defense industry, and is expanding supply areas to defense, robotics, and UAM sectors.

 

Ryu Seung-heon, L&F CFO, stated, "In the third quarter, as new single-crystal high-nickel projects and LFP supply to North American ESS begin in earnest, the dual-axis growth foundation for NCM and LFP will accelerate."