S-Oil stock reports a 40.9 percent Q2 revenue surge

Published on 10/07/2026 at 01:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

S-Oil stock drew a KRW 210,000 target from NH Investment on September 7, up from KRW 165,000. The KRX quote was KRW 165,300 on October 6, while market capitalization stood at KRW 18.6 trillion.

S-Oil, KR7010950004, Illustration mit AI erstellt.

S-Oil (KR7010950004) reported Q2 2026 revenue of KRW 11.3 trillion, up 40.9 percent from the same period a year earlier, according to ATS View. The result gives the refining group a stronger earnings backdrop as analysts raise their expectations for the next quarter.

Q2 revenue reaches KRW 11.3 trillion

S-Oil generated operating profit of KRW 965 billion in Q2 2026, reversing an operating loss in the year-earlier period, while net income reached KRW 514.6 billion, according to ATS View. Revenue growth of 40.9 percent shows how quickly the earnings picture improved, but the quarter-on-quarter comparison was less favorable because Q1 revenue was KRW 8.94 trillion and Q1 net income was KRW 721.0 billion.

The figures remain closely tied to refining economics. S-Oil operates refining, petrochemical and lubrication businesses, and its Q2 operating profit of KRW 965 billion was supported by the recovery in the core refining operation.

Analyst target rises to KRW 210,000

NH Investment kept its Buy rating and raised its S-Oil target from KRW 165,000 to KRW 210,000 on September 7, 2026, according to Chosun Biz. The 27.3 percent increase in the target reflected expectations for stronger refining margins and a weaker official selling price for crude.

NH Investment projected Q3 2026 operating profit at KRW 1.2945 trillion, 34.1 percent above Q2 and 22.5 percent above the cited market consensus of KRW 1.057 trillion, according to Chosun Biz. That forecast makes margin durability more important than the revenue rebound alone.

Consensus target remains above the quote

The analyst consensus was Buy among 18 analysts, with an average target of KRW 169,611.11 and a spread of 13.07 percent above the KRW 150,000 reference close listed on September 10, 2026, according to Marketscreener. The consensus target is only KRW 4,311.11 above S-Oil's October 6 quote, so the average view is less aggressive than NH Investment's KRW 210,000 target.

S-Oil stock was last at KRW 165,300

S-Oil stock was last at KRW 165,300 on the Korea Exchange on October 6, 2026 at 3:30 p.m. KST, down 0.54 percent from KRW 166,200. The quote stood below the 52-week high of KRW 177,100 and above the 52-week low of KRW 62,600.