SAN DIEGO, Oct. 24, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC, announced today that the financial advisors at Dougherty, Tedesco & Associates have joined LPL Financial’s broker-dealer, RIA and custodial platforms. They reported serving approximately $800 million in advisory, brokerage and retirement plan assets,* and join LPL from Osaic. Founded in the early 1980s by Charlotte Dougherty, CFP®, the business has evolved over the years to into a holistic wealth management firm and cornerstone of the greater C ...

Financial Data and Key Metrics Changes - Q3 revenue reached KRW6,821.3 trillion, marking a 2% quarter-over-quarter growth and a 43% year-over-year increase due to the transition to an OLED-centric business portfolio [3][4] - Operating loss for Q3 was KRW80.6 billion, impacted by a one-off expense exceeding KRW100 billion related to an ERP program, although the loss was narrowed compared to the previous year [4][6] - Cash and cash equivalents stood at KRW1.787 trillion, with a potential total of KRW2.751 trillion if certain assets were included [6] Business Line Data and Key Metrics Changes - Area shipment declined 3% quarter-over-quarter but grew 32% year-over-year, driven by higher TV panel shipments [5] - ASP per square meter increased by 6% quarter-over-quarter to $825, supported by growth in small OLED products [5] - Mobile and other segments accounted for 36% of revenue, while IT segment revenue decreased by 33% quarter-over-quarter due to sluggish demand [5] Market Data and Key Metrics Changes - OLED's share of total revenue increased to 58%, up 16 percentage points year-over-year and 6 percentage points quarter-over-quarter [6] - The auto segment revenue accounted for 8% of the revenue mix, down 1 percentage point quarter-over-quarter, but continued its annual growth trajectory [5] Company Strategy and Development Direction - The company aims to enhance its OLED-centric business structure to improve fundamentals and performance, focusing on operational efficiency and cost innovation [8][9] - Plans for medium OLED business include solidifying competitiveness through stable supply and technology leadership, while the auto business will focus on expanding customer segments and increasing OLED product share [10][12] - Investment activities will be conservative, prioritizing strengthening business fundamentals and financial soundness while maximizing current infrastructure [13][14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged uncertainties in the downstream IT product market, projecting mid-single-digit percent growth in shipments for TV and notebook PC panels in Q4 [7][9] - Despite macro uncertainties, management expressed confidence in the company's ability to drive performance through operational efficiency and cost management [8][9] Other Important Information - The company is undergoing a significant ERP program, which is expected to yield over KRW100 billion in annual labor cost reductions [8] - CapEx for the year is projected to be in the mid $2 trillion level, down by around KRW1 trillion year-over-year [14] Q&A Session Summary Question: Plans for cash proceeds from the Guangzhou LCD TV set plant sale - Management explained the deal structure and timing, indicating that the process may take time due to necessary approvals from multiple countries [16][18][19] Question: Competition in the smartphone business - The company acknowledged heightened competition but noted an uptrend in panel shipments and a strengthening product mix [26][27] Question: Demand recovery in the IT product industry - Management indicated that while there are signs of recovery in low-end products, the overall IT product market remains uncertain [32][33][36] Question: Price projections and demand normalization - The company expects a contraction in the TV set market but sees slight recovery signs in the IT set and panel market, particularly for low-priced products [35][36] Question: Growth strategies for large OLED panel business - Management highlighted efforts to enhance competitiveness through technological advancements and strengthening customer relationships [41][43]

SAN DIEGO, Oct. 21, 2024 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (Nasdaq: LPLA) today announced that the Board of Directors has confirmed Rich Steinmeier as Chief Executive Officer. Steinmeier, who had been interim CEO since October 1, was also elected a member of the Board.   In addition, the Board named Matt Audette as President and Chief Financial Officer, expanding his previous role as Chief Financial Officer and Head of Business Operations. The appointments are effective immediately.   “LPL is ...

SAN DIEGO, Oct. 16, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC, announced today that a group of advisors in St. Petersburg, Fla., have joined LPL Financial's broker-dealer, RIA and custodial platforms. They reported having served approximately $450 million in advisory and brokerage assets* and join LPL from Raymond James. Financial advisors Michael Collins, Jim Spicer, Ryan Roy, Gary Hummel, Robert Torris, David Zaccagnino, Steven Laesser and Mark Wolf, along with his son Logan Wolf, a registered assistant, ...

Over the years, leading broker-dealer LPL Financial (NASDAQ: LPLA ) has built up a best-in-class platform spanning front, middle, and back-office solutions for financial advisors. The results speak for themselves - ~23.5k advisors and 1.5 trillion assets onboarded (as of Q2 2024), as well as a Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and ...

SAN DIEGO, Oct. 14, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC, announced today that financial advisor Ashton Medina, CFA®, CFP®, has joined LPL Financial's broker-dealer and corporate RIA platforms, aligning with existing firm GradePoint Financial Group. He reported having served approximately $155 million in advisory, brokerage and retirement plan assets* and joins LPL from Synovus Securities. Based in Miami, Fla., Medina is in his fifth year as an advisor following an initial career as a portfolio manage ...

SAN DIEGO, Oct. 09, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq:LPLA) announced today that financial advisors Michael Caffrey, CRPC®, Derek Keller, CFP®, CPFA®, CRPC®, MBA, and Gabriel Parham have launched a new independent practice, Air Capital Wealth Management, through affiliation with LPL Strategic Wealth Services, a supported independence model. The team reported having served approximately $685 million in advisory, brokerage and retirement plan assets* and joins LPL from Merrill Lynch. Based in ...

SAN DIEGO, Oct. 03, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC, announced today that the advisors at The Noble Group have joined LPL Financial's broker-dealer, RIA and custodial platforms. They reported having served approximately $2.1 billion in advisory, brokerage and retirement plan assets* and join LPL from Raymond James. Founded in 1996 by Tom Noble, AIF®, The Noble Group is a holistic wealth management firm that offers a range of financial services including corporate retirement plan consulting, finan ...

LPL Financial Holdings (LPLA) , along with its subsidiaries LPL Financial LLC, has completed the acquisition of Altria Wealth Solutions, Inc. ("Altria"). Further, the company announced a change in its leadership with the termination of its existing president and chief executive officer (CEO) and the appointment of a new CEO. Details of Acquisition Pursued by LPLA Atria Wealth Solutions, Inc., based in New York, boasts a network of almost 2,400 advisors and serves around 150 banks and credit unions, managing ...

SAN DIEGO, Sept. 30, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC, a leader in the wealth management industry, today announced that financial services industry veteran Cheri Belski has joined the firm as executive vice president and head of investment management solutions. Belski will be responsible for leading key investment efforts, including LPL Research, Investment Products and Advisory Platforms, as well as LPL's Retirement Partners business. Belski brings more than 25 years of experience to LPL, most re ...