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Shares of China Automotive Systems (NASDAQ:CAAS) moved higher by 6% in pre-market trading after the company reported Q1 results.
Quarterly Results
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Earnings per share fell 100.00% year over year to ($0.00), which beat the estimate of ($0.09).
Revenue of $73,555,000 declined by 32.64% year over year, which beat the estimate of $55,500,000.
Outlook
China Automotive Systems hasn't issued any earnings guidance for the time being.
The upcoming fiscal year's revenue expected to be between $360,000,000 and $360,000,000.
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Date: Jun 23, 2020
Time: 08:00 AM
ET Webcast URL: http://www.caasauto.com/#/ir/events
Price Action
Company's 52-week high was at $4.16
52-week low: $1.43
Price action over last quarter: Up 103.39%
Company Overview
China Automotive Systems Inc is a holding company. The firm through its subsidiary is a supplier of power steering systems and components to China automotive industry. Its product offering encompasses a full range of auto parts incorporated into steering systems for both passenger automobiles and commercial vehicles. The company offers four separate series, more than 300 models of power steering including rack and pinion power steering, integral power steering, electronic power steering and manual steering, steering columns, steering oil pumps, and steering hoses. Geographically, it derives a majority of revenue from China.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.