South Korea's POSCO posts 15% drop in second quarter operating profit on higher raw materials costs [Reuters]
POSCO Holdings Inc. American Depositary Shares (Each representing 1/4th of a share of) (PKX)
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Source: Reuters
South Korea's POSCO posts 15% drop in second quarter operating profit on higher raw materials costs - Reuters 2 Min Read SEOUL (Reuters) - South Korean steelmaker POSCO ( 005490.KS ) said on Tuesday its second-quarter operating profit fell 15% from the same period a year earlier, dragged down by higher raw material costs, meeting analyst estimates. The world’s fifth-biggest steelmaker forecast a pick-up in China’s steel demand in the second half of the year, supported by a boost to economic policy, but said global steel demand growth is expected to slow due to economic uncertainties. The steel maker slightly raised its 2019 consolidated revenue target to 66.8 trillion won, from its previous goal of 66.3 trillion won in January. POSCO posted a consolidated operating profit of 1.1 trillion won ($933.7 million) for the April-June period, compared with 1.3 trillion won a year earlier and an average estimate of 1.1 trillion won, compiled from 13 analyst forecasts according to Refinitiv d
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- 12/12/24 - Form 6-K
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- PKX's page on the SEC website