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China Automotive Systems: Q1 Earnings Insights

Shares of China Automotive Systems (NASDAQ:CAAS) moved higher by 6% in pre-market trading after the company reported Q1 results. Quarterly Results Earnings per share fell 100.00% year over year to ($0.00), which beat the estimate of ($0.09).

Benzinga · -

Shares of China Automotive Systems (NASDAQ:CAAS) moved higher by 6% in pre-market trading after the company reported Q1 results.

Quarterly Results

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.

How To Listen To The Conference Call

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.