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    A005490   KR7005490008

POSCO

(A005490)
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Posco Forecasts Sharp Jump in Third-Quarter Operating Profit

10/13/2021 | 01:08am EST

By Kwanwoo Jun

Posco forecasts its third-quarter operating profit to jump nearly five-fold from the same period a year earlier, beating street views.

Analysts expect that brisk demand and higher-than-expected average selling prices for steel products likely drove the South Korean steelmaker's strong earnings growth.

Posco said Wednesday that it projects operating profit of 3.110 trillion won ($2.60 billion) for the quarter ended September, versus KRW670.00 billion a year earlier.

The preliminary earnings forecast is above a FactSet-compiled market consensus for operating profit of KRW2.666 trillion for the quarter.

Revenue is expected to rise 45% to KRW20.610 trillion for the quarter, the company said in a regulatory filing.

Posco shares closed 0.9% higher at KRW325,000 after the release of preliminary quarterly results.

Posco is due to release its full quarterly earnings report later this month.

Write to Kwanwoo Jun at kwanwoo.jun@wsj.com

(END) Dow Jones Newswires

10-13-21 0308ET

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Analyst Recommendations on POSCO
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Financials
Sales 2021 74 858 B 63,4 B 63,4 B
Net income 2021 6 680 B 5,66 B 5,66 B
Net Debt 2021 6 290 B 5,33 B 5,33 B
P/E ratio 2021 3,76x
Yield 2021 5,54%
Capitalization 21 705 B 18 377 M 18 384 M
EV / Sales 2021 0,37x
EV / Sales 2022 0,33x
Nbr of Employees 17 403
Free-Float 85,3%
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Technical analysis trends POSCO
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 22
Last Close Price 287 000,00 KRW
Average target price 440 238,10 KRW
Spread / Average Target 53,4%
EPS Revisions
Managers and Directors
Jeong-Woo Choi Co-Chief Executive Officer & Director
In-Hwa Chang Co-President, Co-CEO & Director
Jung-Son Chon Co-Chief Executive Officer & Director
Seung-Kyu Lim Senior Managing Director & Head-Finance
Seong-Wook Lee Head-Legal & Compliance Support
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