Recap: China Automotive Systems Q1 Earnings

Shares of China Automotive Systems CAAS decreased 4.3% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share rose 0.00% over the past year to $0.10, which beat the estimate of $0.03.

Revenue of $130,341,000 up by 77.20% year over year, which beat the estimate of $116,780,000.

Looking Ahead

The upcoming fiscal year's revenue expected to be between $485,000,000 and $485,000,000.

Conference Call Details

Date: May 12, 2021

Time: 08:00 AM

ET Webcast URL: http://www.caasauto.com/#/ir/events

Price Action

52-week high: $13.69

Company's 52-week low was at $1.61

Price action over last quarter: down 15.82%

Company Profile

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.