HD Hyundai posts 72% jump in Q3 operating profit on broad-based gains

HD Hyundai posted a 72 percent year-on-year rise in consolidated operating profit for the third quarter of 2026, driven by broad-based gains across its shipbuilding, construction machinery and energy businesses.

The company disclosed Wednesday that third-quarter sales rose 21.2 percent from a year earlier to 22.08 trillion won ($16.7 billion), while operating profit climbed 71.5 percent to 2.92 trillion won.

HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company for the shipbuilding and offshore segment, reported consolidated sales of 8.29 trillion won and operating profit of 1.45 trillion won — up 9.3 percent and 37.3 percent, respectively, from a year earlier. Vessel profitability at HD Hyundai Heavy Industries and HD Hyundai Samho, along with engine earnings at HD Hyundai Marine Engine, all held firm.

HD Hyundai Site Solution, the construction machinery arm, posted sales of 2.18 trillion won and operating profit of 200.2 billion won, up 6.0 percent and 39.8 percent year-on-year, respectively, as global demand recovered and the market for industrial and power-generation engines expanded.

HD Hyundai Site Solution plans to stay on schedule with the completion of a new engine factory in Gunsan while developing the engine business as a future growth driver to sustain its momentum.

HD Hyundai Oilbank, the energy unit, grew sales 37.0 percent year-on-year to 10.04 trillion won and operating profit 371.2 percent to 900.9 billion won, expanding exports in its refining and lubricant base oil segments despite persistent geopolitical uncertainty in the Middle East.

However, HD Hyundai Oilbank's petrochemical business swung to a loss as the global oversupply environment continued.

HD Hyundai Electric saw sales rise 18.5 percent year-on-year to 1.18 trillion won and operating profit grow 15.1 percent to 284.5 billion won, with revenue increasing across all business divisions.

HD Hyundai Electric plans to strengthen its position in global markets through a "package" export strategy that supplies both power equipment and distribution equipment simultaneously.

"We maintained solid profitability across key business segments, including shipbuilding, construction machinery and energy," an HD Hyundai official said. "We will continue to pursue stable growth through ongoing productivity improvements and stronger business competitiveness."