Hyundai Motor is set to release its second-quarter financial results on Wednesday. Here are the key details:
Net Profit Forecast
According to a consensus forecast from FactSet, Hyundai Motor is expected to report a solid net profit of 3.038 trillion won ($2.37 billion) for the quarter ended in June. Although this reflects a 1.5% decrease compared to the previous year, it still indicates strong quarterly earnings for the company.
Revenue Forecast
FactSet consensus forecasts predict that Hyundai Motor will post revenue of KRW40.095 trillion and achieve a record operating profit of KRW3.855 trillion for the quarter.
What to Watch For
Strong Earnings: Investors are eager to see if Hyundai can maintain a net profit above KRW3 trillion for two consecutive quarters and achieve a new record in quarterly operating profit. This achievement is likely driven by an improved product mix, with a focus on higher-end models.
Brisk Car Sales: The company’s sales performance will be closely observed to determine if its robust car sales can continue throughout the year. In the first half of the year, Hyundai’s total vehicle sales rose 10.8% compared to the previous year, surpassing Stellantis and securing the No. 4 spot in U.S. sales together with its sibling car marker, Kia.
Electric Vehicles: Investors will be interested in any updates regarding Hyundai’s strategy for its electric-vehicle business. The company has already raised its EV sales target to 2 million units by 2030.
