Hyundai Motor Set to Report Third-Quarter Results

1 Mins read

Net Profit Forecast:

Hyundai Motor, the South Korean car maker, is expected to report a net profit of 2.907 trillion won ($2.16 billion) for the July-September period, according to a consensus forecast provided by FactSet. This represents a significant increase from the KRW1.272 trillion profit recorded a year earlier.

Revenue Forecast:

In terms of revenue, Hyundai Motor is expected to post KRW39.843 trillion and an operating profit of KRW3.568 trillion for the quarter, according to a FactSet consensus forecast.

What to Watch:

Profit Rise: Investors will be keen to see if the company’s net profit will more than double from a year earlier, driven by strong sales of higher-end Genesis models and sport-utility vehicles in North America.

Recalls: In September, Hyundai Motor and its sibling company Kia issued recalls for over 3.3 million vehicles in the U.S. due to a potential fire risk. Investors will be closely monitoring the provisioning cost of the recall and its impact on earnings.

EVs: Given the current cooling demand for electric vehicles (EVs) in China and Europe, market analysts will be interested in any updates or outlook on Hyundai Motor’s electric-vehicle business strategy.

Related posts

Alaska Air Group Inc. to Acquire Hawaiian Airlines

1 Mins read
Alaska Air Group Inc. has recently announced its plan to acquire Hawaiian Airlines in a deal worth approximately $1.9 billion. The transaction…

The State of the U.S. Labor Market

2 Mins read
This week, all eyes will be on the U.S. labor market as the Federal Reserve’s December meeting approaches. The release of November…

Ceres Power Holdings Faces Revenue Setback

1 Mins read
Ceres Power Holdings, a leading fuel-cell technology company, experienced a sharp decline in its shares on Friday. The company announced that its…

Leave a Reply

Your email address will not be published. Required fields are marked *