Green Cross stock: IBK sees Q3 profit above consensus
Published on 10/30/2026 at 00:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSGreen Cross profit outlook
- IBK Securities forecast consolidated third-quarter revenue of KRW 524.4 billion, down 14.0% year over year.
- Operating profit was projected at KRW 40.8 billion, ahead of the KRW 36.4 billion consensus.
- Lower Paxlovid sales and the deconsolidation of GC Wellbeing were cited as revenue drags.
- Immunoglobulin and influenza vaccine sales were expected to support margins.
On October 21, 2026, ChosunBiz reported that IBK Securities expected GC Biopharma's third-quarter operating profit to exceed market expectations despite weaker sales. The brokerage maintained its buy rating and a KRW 190,000 target price.
Profit outlook despite softer sales
IBK Securities estimated consolidated third-quarter revenue at KRW 524.4 billion, down 14.0% from a year earlier. Operating profit was projected at KRW 40.8 billion, up 39.8% year over year and above the market consensus of KRW 36.4 billion, while the revenue estimate was below the KRW 569.4 billion consensus.
According to the report, weaker sales of the COVID-19 treatment Paxlovid were the main reason for the expected top-line decline as demand normalized. The analyst also pointed to the sale of GC Wellbeing to GC Corp., which removed the business from consolidation from the second quarter and affected the year-on-year comparison.
Product mix remains central
The earnings outlook was more constructive on profitability. ChosunBiz reported that a higher contribution from influenza vaccines and immunoglobulin products was expected to improve the product mix. One-off disposal gains linked to reduced losses at subsidiary ABO Holdings and the sale of a stake in Qur'Elbo were also cited as contributors to the projected profit increase.
IBK Securities further highlighted the potential expansion of subcutaneous immunoglobulin, or SCIG. The product could build on the company's existing US sales infrastructure, but the report describes this as a future growth opportunity rather than a completed commercial result.
For investors, the key distinction is between the forecast decline in revenue and the expected improvement in operating profitability. The estimates remain analyst projections and should not be treated as reported third-quarter results.
Green Cross company facts
- Company: Green Cross, also known as GC Biopharma
- ISIN: KR7006280002
- Korean stock code: 006280
- Analyst: IBK Securities, forecast dated October 21, 2026
- Third-quarter revenue forecast: KRW 524.4 billion
- Third-quarter operating profit forecast: KRW 40.8 billion
- Target price: KRW 190,000
The broader Korean equity backdrop can be followed in Current market reports.
More news and analyses on Green Cross stock are available in the dedicated topic section.
