Why does SK Innovation expect its refining business recovery to take time despite a potential resolution of the Middle East conflict?

SK Innovation stated that 'the normalisation of production and logistics of its refining business is expected to take time even if the Middle East conflict is resolved.' This indicates that structural or operational disruptions—beyond geopolitical tensions—are impeding a swift return to stable refining operations.

How did SK Innovation's Q1 2024 operating profit compare to both the prior year and analyst expectations?

SK Innovation posted an operating profit of 2.2 trillion won ($1.48 billion) for January–March 2024, a sharp reversal from a 30 billion won loss a year earlier, and significantly exceeded the LSEG SmartEstimate forecast of 1.4 trillion won, which weights input from more consistently accurate analysts.

SK Innovation warns refining recovery to take time, beats Q1 profit estimates

May 13, 2026

SK Innovation beat Q1 profit estimates with 2.2 trillion won operating profit, though refining recovery remains slow due to logistics disruptions. Its battery unit SK On narrowed losses amid slowing EV demand and recent layoffs.

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SK Innovation warns refining recovery to take time, beats Q1 profit estimates

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