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.
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.