Samsung Electronics and SK Hynix will release Q2 2026 earnings results between July 7 and July 29, with combined operating profit estimates reaching 149.04 trillion won according to analyst consensus compiled by EpicAI. The announcements come as Korean listed companies are projected to report a record 206.85 trillion won in combined Q2 operating profit, a 32% increase from Q1 2026's 156.32 trillion won, driven by surging memory chip prices amid AI infrastructure investment. Samsung Electronics' Q2 consensus stands at 84.60 trillion won, though some analysts project the company could exceed 100 trillion won excluding performance bonus provisions, while SK Hynix's consensus is 64.44 trillion won ahead of its July 10 ADR listing on U.S. exchanges.
Korean Listed Companies Project Record 206.85 Trillion Won Q2 Operating Profit
According to FnGuide data as of July 3, 219 Korean listed companies with earnings estimates from three or more securities firms are projected to report combined Q2 2026 operating profit of 206.85 trillion won on a consolidated basis. This represents a 257.96% increase from the same period in 2025 (57.79 trillion won). Revenue and net profit estimates stand at 865.95 trillion won and 165.84 trillion won respectively.
The Q2 profit forecast has increased by 64.53 trillion won (45.33%) since early April 2026, when analysts projected 142.33 trillion won in combined operating profit. Even in the month preceding earnings season, estimates rose by 1.50 trillion won.
Samsung Electronics will announce preliminary Q2 results on July 7, with LG Energy Solution beginning the earnings season on July 6. SK Hynix is expected to report results on July 29. KB Securities estimated on July 1 that Samsung's Q2 operating profit would reach 90.20 trillion won, projecting DRAM average selling prices increased 55% quarter-over-quarter and NAND flash prices rose 60%. Meritz Securities provided the highest estimate at 99.30 trillion won.
Samsung Electronics Performance Bonus Provision Estimated at 19-25 Trillion Won for H1 2026
Samsung Electronics' Q2 earnings face uncertainty due to performance bonus provisions following a labor agreement. The company and its labor union agreed to establish a special management performance bonus for the semiconductor (DS) division, allocating 10.5% of operating profit as bonus funding in addition to existing performance pay. Because Samsung typically records bonus provisions quarterly but did not do so in Q1 2026 due to prolonged negotiations, the H1 2026 provision is estimated at 19-25 trillion won.
Securities firms recently lowered Samsung Electronics Q2 estimates to reflect this provision. Korea Investment & Securities reduced its forecast from 95.85 trillion won to 86.05 trillion won (down 10.2%) on July 3. Shinhan Investment Securities lowered estimates from 89.86 trillion won to 82.10 trillion won, while BNK Investment & Securities reduced its projection from 82 trillion won to 77.70 trillion won. Kiwoom Securities provided the highest estimate among firms explicitly accounting for provisions, projecting 89.27 trillion won in operating profit.
Kim Hyung-tae, researcher at Shinhan Investment Securities, stated that excluding the provision effect, Samsung's actual profit generation capacity is estimated to have exceeded 100 trillion won in Q2.
SK Hynix faces less volatility as the company has applied a 10% operating profit allocation for performance bonuses quarterly since 2023 under its excess profit distribution system.
SK Hynix Schedules July 10 ADR Listing on U.S. Exchanges
SK Hynix will list American Depositary Receipts (ADR) on U.S. exchanges on July 10. HSBC Securities raised SK Hynix's target price from 2.9 million won to 4 million won on June 26, projecting the company will improve global investor accessibility through the ADR and enjoy a 20% premium compared to previous valuations.
JP Morgan stated in a recent report that Q2 earnings season will serve as a turning point for memory cycle reassessment, noting that investors should monitor the structure and scale of long-term supply contracts disclosed by memory manufacturers and supply constraint situations at major memory companies.
FAQ
Q: What are the Q2 2026 operating profit estimates for Samsung Electronics and SK Hynix?
A: According to EpicAI analyst consensus, Samsung Electronics' Q2 2026 operating profit estimate is 84.60 trillion won, while SK Hynix's estimate is 64.44 trillion won. Some analysts project Samsung could exceed 100 trillion won excluding performance bonus provisions, with Meritz Securities providing the highest estimate at 99.30 trillion won.
Q: When will Samsung Electronics and SK Hynix announce Q2 2026 earnings?
A: Samsung Electronics will announce preliminary Q2 2026 results on July 7, while SK Hynix is expected to report earnings on July 29. The earnings season for Korean listed companies begins July 6 with LG Energy Solution.
Q: What is the estimated performance bonus provision for Samsung Electronics in H1 2026?
A: Samsung Electronics' H1 2026 performance bonus provision is estimated at 19-25 trillion won. This follows a labor agreement establishing a special management performance bonus for the semiconductor division, allocating 10.5% of operating profit as bonus funding. The company did not record provisions in Q1 2026 due to prolonged negotiations, resulting in a larger H1 provision.
