S-Oil Q2 Operating Profit Forecast to Hit 980 Billion Won, Up 56.96% in Revenue

According to Yonhap Infomax on July 28, S-Oil's second-quarter operating profit is forecast to reach approximately 980 billion won, swinging to profitability from a loss in the same period last year, based on consensus from 10 securities firms. Revenue is projected at 12.63 trillion won, up 56.96% year-over-year. Despite a decline in international crude prices, strong refining margins and favorable supply-demand imbalances in the lubricant oil sector are expected to support profitability. Analysts note that lubricant oil operations alone may generate over 1.5 trillion won in annual operating profit following supply disruptions from earlier facility damage. However, inventory valuation gains from rising oil prices in the previous quarter are unlikely to repeat.
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