POSCO Holdings Inc. (005490) AI Stock Analysis

Company Guidance

Management guided to continued quarter‑over‑quarter improvement in Q3 and a stronger Q4, noting Q2 consolidated results of KRW 19.3 trillion revenue, KRW 819–820 billion operating profit, KRW 1.9 trillion EBITDA, and KRW 2.0 trillion Q2 CapEx (KRW 3.7 trillion H1 CapEx). They expect crude steel production of ~9.0 million tonnes in Q3, POSCO separate OP ~KRW 274 billion in Q2 (2.9% margin), ASP for carbon steel up to KRW 962,000/tonne (from KRW 920,000), and raw‑material costs +~6% q/q, with domestic sales rising to 55.5%. For battery materials, POSCO Argentina saw sales +160% q/q, revenue +290% q/q and recorded KRW 11 billion OP (first quarterly profit), but management warned of a temporary Q3 production dip for Plant 1 (LP dryer replacement, Argentina winter) with full operation and certified sales ramping in Q4; P‑PLS posted KRW 102 billion revenue and ~KRW 1 billion operating loss in Q2. Other noted metrics: POSCO E&C OP KRW 44 billion Q2 (H1 KRW 97 billion), a 2.5 Mt EAF completed in June, 12 restructuring projects generated KRW 475.4 billion cash in H1 with a KRW 3.5 trillion target by 2028, plans to monetize affiliate stakes to raise ~KRW 3.5 trillion (with ~10% or KRW 350 billion proposed for shareholder returns under a 50% payout framework), and a safety assessment of 33 affiliates across 4 areas to be completed by October.