. POSCO's Q2 Earnings Beat Predictions, But Shares Decline - 11 May

POSCO’s Q2 Earnings Beat Predictions, But Shares Decline – 11 May

POSCO’s Q2 Earnings Beat Predictions, But Shares Decline – 11 May

11 May 2023

Q2 Earnings and Revenue of POSCO Exceed Analysts’ Expectations.

On July 27, 2022, POSCO announced its second-quarter earnings, exceeding analysts’ earnings per share and revenue predictions. The company reported earnings per share of 3.48 and revenue of 17.6 billion, surpassing the expected EPS of 3.37 and revenue of 17.58 billion, according to a poll conducted by Investing.com.

Despite the positive results, POSCO’s shares have decreased by 14.67% since the start of the year, trading at 50.50, down from its 52-week high. The company is underperforming compared to the EUR/USD, which has not seen any change year-to-date.

POSCO’s announcement comes after other significant players in the Materials sector reported earnings this month. Sherwin-Williams, for instance, missed expectations on July 27, reporting an EPS of 2.41 on revenue of 5.87 billion, compared to the projected EPS of 2.77 and revenue of 6.03 billion. On the other hand, Vale ADR exceeded expectations on July 28, posting a second-quarter EPS of 1.32 on revenue of 11.16 billion, compared to the expected EPS of 0.8013 and revenue of 11.38 billion.

To stay updated on upcoming earnings reports, investors can check Investing.com’s earnings calendar.