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Hyundai Mobis profit misses consensus by 17.9% in Q3

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According to Market Intelligence, February 2023

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Hyundai Mobis profit misses consensus by 17.9% in Q3

Hyundai Mobis Co. Ltd. said its normalized net income for the third quarter was 4,890.11 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 5,958.41 won per share.

EPS decreased 22.5% year over year from 6,313.88 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 463.14 billion won, a decline of 22.5% from 597.69 billion won in the year-earlier period.

The normalized profit margin declined to 5.3% from 6.8% in the year-earlier period.

Total revenue totaled 8.773 trillion won, compared with 8.778 trillion won in the prior-year period, and total operating expenses increased on an annual basis to 8.228 trillion won from 8.056 trillion won.

Reported net income declined 31.6% from the prior-year period to 482.16 billion won, or 5,091.00 won per share, from 704.49 billion won, or 7,442.00 won per share.

As of Nov. 14, US$1 was equivalent to 1,114.97 South Korean won.