SK hynix is expected to report Q3 earnings tonight at 4:00 PM ET after shares dropped 23.52% over the past month.
Analysts expect KRW 99.68 trillion in revenue, representing a 25.67% sequential increase from Q2.
Investors will be watching the company’s HBM4 production ramp, long-term supply agreements, and capital spending plans.
With shares trading at roughly 5 times forward earnings, strong results and sustained memory pricing could help restore confidence following the recent selloff.
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SK hynix (NASDAQ:SKHY) is expected to report Q3 results at about 4:00 PM ET tonight. After the stock fell 24% over the past month, tonight’s report will show whether AI memory demand still supports the company’s $1 trillion valuation.
The company’s second-quarter revenue came in at KRW 79.32 trillion, up 256.8% year over year, while operating profit rose 557.2% to KRW 60.54 trillion. Operating margin hit 76% as HBM, AI server DRAM, and eSSD led price increases across DRAM and NAND. Cash reached 88 trillion won, raising net cash to 69.4 trillion won.
Shares now trade at $146.50, down from $191.56 a month ago and below the company’s recent 52-week high of $199.87. The stock still carries a forward P/E of just 5, against an average analyst target of $247.
| Metric | Q3 2026 Estimate | QoQ Change | FY 2026 Estimate | FY 2027 Estimate |
|---|---|---|---|---|
| Revenue | KRW 99.68T | +25.67% | KRW 343.92T | KRW 530.57T |
| EPS (Normalized) | $6.2529 | N/A | $26.684 | $34.476 |
Analysts project FY2027 revenue 54.27% above FY2026, while EPS grows a slower 29.2%. That gap signals some models build in margin normalization. FY2027 EPS estimates span $23.081 to $44.393, revealing deep disagreement about cycle length.
Here are some of the top items I’m watching for during earnings tonight:
| Quarter | EPS Surprise | Earnings-Day Move | 1-Day Move | 7-Day Move | 30-Day Move |
|---|---|---|---|---|---|
| Q2 2026 | N/A | -2.6% | +17.52% | +19.12% | +27.01% |
Shares rose 19.12% in the seven days after Q2 earnings following the only quarter reported since the U.S. listing.
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Thomas Richmond is a financial writer and content strategist with 5+ years of experience covering stocks and financial markets. He has published over 500 articles focused on individual stock analysis, helping investors better understand business fundamentals, stock valuations, and long-term opportunities.
Thomas previously served as a Content Lead at TIKR, a stock research platform, where he helped scale the company’s blog to hundreds of articles per month and contributed to a weekly newsletter reaching more than 100,000 investors.
Outside of work, Thomas enjoys weight lifting and soccer.
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