Woori Financial ADRs sink as Q1 profit dips and results miss expectations
Woori Financial Group ADS (WF) slid about 5% after reporting first-quarter 2026 net profit of KRW 603.8 billion, down roughly 2% year over year and below expectations. The earnings update highlighted weaker operating income even as revenue rose, pushing investors to sell the U.S.-listed ADRs.
1. What happened
Woori Financial Group’s U.S.-listed American depositary shares (WF) fell about 4.95% to $67.25 in U.S. trading as investors digested the company’s first-quarter 2026 earnings update released April 24, 2026. The group reported net attributable income of KRW 603.8 billion, down from KRW 616.7 billion a year earlier, with commentary indicating the result came in below market expectations. (koreajoongangdaily.joins.com)
2. The numbers investors focused on
Beyond the modest decline in net profit, the print showed pressure in profitability metrics: operating income fell to KRW 808.2 billion from KRW 869.3 billion in the year-ago quarter, while sales/revenue rose 58% to KRW 15.282 trillion. That mix—higher reported revenue but lower operating income and profit—can be read as weaker underlying earnings power for a financial holding company, helping explain the negative price reaction in the ADRs. (rttnews.com)
3. Additional context and what to watch next
In Korea, coverage of the quarter emphasized the earnings shortfall versus expectations and noted Woori Bank’s profit declining year over year, which can weigh on sentiment given the bank’s central role in group earnings. Investors will likely focus next on credit costs, net interest margin trajectory, and any updates on nonbank earnings contributions and capital plans, since management has been positioning capital strength and business diversification as key priorities. (koreajoongangdaily.joins.com)