L&F (066970.KS) Q1 2026: Revenue Doubles, Operating Swing Driven by ₩136.2B Inventory Reversal
L&F's first operating profit in six quarters is real in magnitude but fragile in origin — rising lithium prices unwound a cumulative inventory write-down rather than reflecting a structural improvement in cathode margins, while a ₩161.5 billion surge in financial costs pushed the bottom line to a net loss of ₩65.3 billion.
Source: 27th Fiscal Year Q1 Business Report — Filed May 2026 with DART | Consolidated Financial Statements | Unit: ₩ billions
