S-Oil Corporation (A010950) Earnings Call Transcripts

S-Oil Corporation's Latest Earnings Call - Q1 FY2026

In Q1 2026, S-Oil Corporation reported a revenue of KRW 8.942 billion, reflecting a 1.7% increase quarter-on-quarter, while operating income surged to KRW 1.231 billion, significantly boosted by inventory-related gains amidst rising crude prices. The company faced challenges from scheduled maintenance and a domestic fuel price cap, which contributed to opportunity losses. Management maintained a cautious outlook, emphasizing stable crude supply through long-term contracts, while signaling potential volatility in earnings due to geopolitical tensions in the Middle East.

Reported metrics

Guidance from management

Management maintained a cautious outlook for Q2, expecting tight market conditions to persist. They confirmed that they have secured crude for normal operations in May and June, indicating stability in supply.

What management said

[Foreign Language] [indiscernible] then what are the strategies that we are employing to respond to them. while these geopolitical issues like the warrant is and the lockdown of the Strait of Hormuz have created unprecedented level of volatility and uncertainty to our business, as you know, A lot of things have changed on the oil price and the product prices and oil supply and the FX.

What analysts pressed on

Analysts expressed concerns regarding the impact of the domestic fuel price cap on profitability and the potential for inventory-related losses if crude prices decline. There were also questions about the sustainability of refining margins amid geopolitical uncertainties.

Main topics on the call

• Strong Refining Margins — S-Oil's refining segment saw operating income rise 455% quarter-on-quarter to KRW 1.396 billion, primarily driven by inventory-related gains of approximately KRW 525 billion. Management noted, 'the lag effect of crude pr...
• Impact of Middle East War — The ongoing Middle East war has created significant uncertainty in global crude oil supply, leading to disruptions and increased prices. Management stated, 'the oil market is expected to stay tight for the time being' du...
• Shaheen Project Progress — The Shaheen project's EPC progress reached 96.9%, with mechanical completion targeted by the end of June 2026. Management confirmed, 'the project is on track' for commissioning in the second half of the year, indicating ...
• Petrochemical Segment Recovery — The petrochemical segment returned to profitability with operating income of KRW 25.5 billion, supported by inventory-related gains. Management highlighted that 'the aromatics market environment is expected to be support...

Read the full S-Oil Corporation transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 25 S-Oil Corporation earnings call transcripts on record, spanning January 31, 2020 to August 3, 2026. Based on this history, S-Oil Corporation reports quarterly. The most recent call on file is dated August 3, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

A010950

Exchange

KOSE

Country

KR

Sector

Energy

Industry

Oil, Gas and Consumable Fuels

Calls on record

25

First call

January 31, 2020

Most recent

August 3, 2026

Reporting cadence

quarterly