Q2 2026 Earnings: Revenue NT$130.3B, EPS NT$0.77
Original: 2026年第2季財報 - 營收130,344,196千元, 稅後淨利6,445,921千元, EPS 0.77元
Summary
Innolux (3481) reported Q2 2026 revenue of NT$130.3B and net income after tax of NT$6.4B, yielding basic EPS of NT$0.77. Operating income was NT$3.1B (operating margin ~2.4%), while net income nearly doubled operating profit due to NT$1.1B in net non-operating income—suggesting meaningful gains from investments, FX, or other below-the-line items. For a large-panel maker navigating a gradual display cycle recovery, the net income outperformance relative to thin core margins is a notable positive, though earnings quality warrants scrutiny given the non-operating contribution.
Full Translation
Innolux Corporation (群創光電, TWSE: 3481) filed its Q2 2026 (ROC Year 115, Q2) quarterly earnings on August 15, 2026. Key financials, all figures in NT$ converted from reported thousands:
• Revenue (營業收入): NT$130,344,196 thousand = NT$130.3B
• Operating Income (營業利益): NT$3,131,861 thousand = NT$3.1B; implied operating margin ~2.4%
• Net Non-Operating Income (營業外收入及支出): NT$1,081,957 thousand = NT$1.1B
• Net Income After Tax (稅後淨利): NT$6,445,921 thousand = NT$6.4B; implied net margin ~4.9%
• Basic EPS (基本每股盈餘): NT$0.77 per share (par value NT$10.00)
Noteworthy: Net income of NT$6.4B is approximately 2.1× operating income of NT$3.1B. Even accounting for NT$1.1B in net non-operating income, the gap implies a pre-tax income significantly below net income, pointing to a material tax benefit—likely deferred tax asset recognition, investment tax credits, or a reversal of prior provisions. Investors should review the full interim report for the tax line breakdown. The company operates in the optoelectronics (光電業) sector; thin operating margins are typical for commodity TFT-LCD capacity, but a positive net income print at this revenue scale signals the balance sheet and cost structure remain intact through the ongoing panel cycle.