South Korean metallurgical company Pohang Iron and Steel Co. (POSCO) announced consolidated financial results for the first quarter of 2026.
The company reported operating income of KRW 707 billion ($479.67 million) for the quarter, compared to operating income of KRW 13 billion in the fourth quarter of 2025 and a decrease from operating income of KRW 568 billion in the same quarter of 2025. In the first quarter of this year, POSCO's sales revenue increased 6.1 percent quarter-on-quarter and grew 2.5 percent year-on-year to 17.87 trillion Korean won ($12.23 billion), while its net profit was 543 billion Korean won ($36.41 million), down from net profit of 344 billion Korean won in the same period. In the first quarter, POSCO produced 8.82 million tons of steel, up 1.1% quarter-on-quarter and 1.9% year-on-year. The company's finished steel sales rose 1.6 percent year-on-year to 8.28 million tons in the quarter.
Despite overall earnings growth, the steel segment faced margin pressure due to higher raw material costs, higher transportation costs and foreign exchange volatility. Operating profit declined in the steel segment despite higher selling prices, reflecting higher production costs.
The company expects demand from infrastructure, energy transition and battery
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