Will battery woes ease? SK Innovation expected to see continued improvement in earnings

SK Innovation posted a sharp increase in second-quarter revenue and operating profit, driven by improved performance across its businesses.

Its battery unit, SK On, turned profitable thanks to customer compensation, higher sales, and tax credit benefits.

The company expects earnings momentum to continue in the second half on a rebound in North American EV demand, a Europe-focused portfolio shift, and more ESS orders.

In refining, volatility remains due to Middle East tensions, but SK Innovation says it is responding with diversified crude sourcing and strategic stockpiles.