China Automotive Systems Q2 EPS $0.24 Down From $0.35 YoY, Sales $158.61M Beat $137.41M Estimate
Portfolio Pulse from Benzinga Newsdesk
China Automotive Systems (NASDAQ:CAAS) reported Q2 earnings of $0.24 per share, a 31.43% decrease from $0.35 per share YoY. However, sales increased by 15.43% to $158.61 million, beating the $137.41 million estimate.
August 13, 2024 | 9:48 am
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China Automotive Systems reported mixed Q2 results with a significant YoY decrease in EPS but a notable increase in sales, beating estimates.
The decrease in EPS may concern investors, but the strong sales performance and beating of estimates could offset some of the negative sentiment. The mixed results are likely to result in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100