China Automotive Systems Boosts Annual Sales Outlook On Solid Q3 Beat

Loading...
Loading...
  • China Automotive Systems Inc CAAS reported third-quarter FY22 sales growth of 26.8% year-on-year to $137.20 million, beating the consensus of $120.56 million.
  • The gross profit margin contracted by 30 basis points Y/Y to 15.2%, and the gross profit increased 24.4% to $20.9 million.
  • The operating margin was 3.6%, and the operating income for the quarter was $4.9 million versus $0.6 million last year.
  • The company held $131.7 million in cash and equivalents as of September 30, 2022. Cash provided by operating activities for nine months totaled $31.7 million.
  • The company reported an EPS of $0.24, beating the consensus of $0.04.
  • Outlook: China Automotive Systems raised its FY22 sales outlook to $540 million from $500 million versus the consensus of $515.59 million.
  • Price Action: CAAS shares are trading higher by 6.22% at $4.2488 on the last check Monday.
Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksGuidanceGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...