Hankook Tire announces Q1 2026 earnings, achieving operating profit of 148 billion won

*This content was translated by AI.

Hankook Tire (CEO Jung Il-taek) announced on the 28th that it recorded consolidated sales of 11.678 trillion won and an operating profit of 1.47 trillion won for the first quarter of 2026. The operating profit margin for this quarter reached 12.6%, and the company has maintained quarterly sales exceeding 1 trillion won for 10 consecutive quarters since the fourth quarter of 2023.

First-quarter sales reached the 1.1 trillion won range, driven by active supply of new car (OE) tires in North American and European markets, alongside growth in replacement (RE) tire sales including high-margin products. Despite deteriorating external conditions such as the imposition of tariffs by the United States, Hankook Tire secured stable sales and profitability through strategic improvements in product mix, focusing on premium new products and high-inch tires.

According to performance data, the sales share of high-inch products of 18 inches or larger reached 45.1%, while the share of electric vehicle (EV) tire supply in global OE sales stood at 20.6%. Earlier this year, Hankook Tire set its full-year performance guidance with targets of 5.1 trillion won in sales, a 47% sales share for high-inch products, and a 30% supply share for EV tires. Based on this latest earnings report, the likelihood of achieving these targets remains high.

However, cost increases due to factors such as the Middle East conflict and the application of U.S. tariffs are emerging, and competitors are increasingly sending challenging signals, leading to anticipated intensified competition. In response, Hankook Tire plans to fully establish a global production system connecting Korea, Europe, and North America by proceeding with the construction of its Hampyeong and European plants, which are currently underway, to drive future growth.

<© STARNEWS. All rights reserved. No reproduction or redistribution allowed.>

*This content was translated by AI.