statement
The 3Q26 earnings improvement was driven by fixed-cost leverage from higher engine deliveries, expanded recognition of 2025 high-price orders, and a rising share of LPG DF engines.
A statement by 현대차증권 조선/방산 백주호. Statements are as reported by the cited publishers — not verified by DecisionGateway.
엔진 인도대수 증가에 따른 고정비 레버리지 효과와 2025년 고선가 수주분 인식 확대, LPG DF 엔진 비중 상승이 실적 개선 견인.
Discussion
Related claims
DF engine revenue share expanded from 7% in 2Q26 to 20% in 3Q26, and the revenue share of 2025 orders rose to about 70%.현대차증권 조선/방산 백주호 · statement4Q26 engine deliveries are expected to be between 2Q26 and 3Q26 levels, with quarterly deliveries near 2H26 levels while high ASP is maintained.현대차증권 조선/방산 백주호 · predictionHD현대마린엔진 recorded 3Q26 revenue of 211.4 billion KRW (YoY +93.7%, QoQ +65.0%) and operating profit of 60.3 billion KRW (YoY +197.2%, QoQ +92.7%, OPM 28.5%), beating consensus operating profit of 40 billion KRW by 50.8%.현대차증권 조선/방산 백주호 · statement디아이 본사's profitability improved significantly due to operating leverage from a surge in equipment supply volume in the second half.현대차증권 반도체소부장/로보틱스 윤동욱 · statementExpensive fuel and a lack of drivers pressured mobility and the profit projection for 4Q26.xp_investimentos · statementKorea's 4Q26 and 2027 earnings estimates have been revised upward, led by energy, chemicals, semiconductors and gaming.미래에셋증권 전략/퀀트 유명간 · statement