S-Oil Q1 2026 Operating Profit Swings to $838M, Turning Profitable Year-Over-Year
S-Oil posted Q1 2026 operating profit of $838M, reversing from a loss of -$15M in the same period last year. Revenue came in at $6.1B, down 0.5% year-over-year, while both operating profit and net income showed a strong recovery.
- S-Oil posted Q1 2026 operating profit of $838M, reversing from a -$15M loss a year ago
- Operating profit surged 231% QoQ, signaling a sharp earnings recovery
S-Oil reported Q1 2026 operating profit of $838M, marking a return to profitability year-over-year, as disclosed via DART filing (May 11, 2026).
Results at a Glance
Revenue declined 0.5% year-over-year to $6.1B. However, both operating profit and net income staged a clear recovery, exiting the loss territory recorded in the same period last year.
- Revenue: $6.1B, -0.5% YoY, +1.7% QoQ
- Operating Profit: $838M, turned profitable YoY (vs. -$15M in Q1 2025), +231.0% QoQ
- Pre-tax Profit: $675M, turned profitable YoY (vs. -$46M in Q1 2025)
- Net Profit: $491M, turned profitable YoY (vs. -$30M in Q1 2025)
Market Reaction
According to media reports, the primary drivers behind the earnings improvement were inventory valuation gains from rising oil prices and a recovery in refining margins. The operating margin for the quarter (operating profit / revenue) works out to approximately 13.8%. S-Oil held a bilingual (Korean and English) earnings conference call on the morning of May 11, 2026.
This article was auto-generated based on the original DART filing and domestic/international media reports, with the goal of delivering key data promptly following the announcement. Readers are advised to consult the company's official disclosure documents before making any investment decisions.
010950Frequently Asked Questions
What does 'turning profitable' (swing to profit) mean?
It means a metric that was in loss territory in the prior comparable period has returned to positive territory. In S-Oil's case, operating profit was -$15M in Q1 2025 but rebounded to $838M in Q1 2026.
What were the main drivers behind the improved results?
Media reports point to two key factors: inventory valuation gains stemming from rising crude oil prices, and a recovery in refining margins — the spread earned from refining crude into products such as gasoline and diesel. Note that this reflects external analysis; the company's official explanation is available via its conference call materials.
How does this compare to the prior quarter (Q4 2025)?
Q4 2025 operating profit was $253M. In Q1 2026, it rose to $838M — a 231% increase quarter-over-quarter. Revenue also grew 1.7% over the same period, from $5.99B to $6.1B.
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