China Automotive Systems Reports Record Annual Revenue, and a 81.2% Increase in Diluted Net Income Per Share to $1.25 in Fiscal Year 2023
China Automotive Systems, Inc. (CAAS)
Last china automotive systems, inc. earnings: 11/12 06:00 am
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caasauto.com
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Source: PR Newswire
- Electric Power Steering ("EPS") Sales Increased by 24.6% in 2023 -WUHAN, China, March 28, 2024 /PRNewswire/ -- China Automotive Systems, Inc. (NASDAQ: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced its unaudited financial results for the fourth quarter and the audited results for the fiscal year ended December 31, 2023.Fourth Quarter 2023 HighlightsNet sales increased by 23.6% year-over-year to $159.2 millionGross profit increased by 38.8% to $34.7 million from $25.0 million. Gross margin increased to 21.8% from 19.4% in the fourth quarter of 2022Operating income was $13.6 million, compared with an operating loss of $2.6 million in the fourth quarter of 2022Net income attributable to parent company's common shareholders increased by 153.5% to $10.9 million, or diluted net income per share of $0.36, compared to net income of $4.3 million, or diluted net income per share of $0.14 in the fourth quarter of 2022.Fisca
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News
- China Automotive Systems, Inc. (NASDAQ:CAAS) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- China Automotive Systems, Inc. (NASDAQ: CAAS) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating.MarketBeat
- China Automotive Systems Reports Record Annual Revenue, and a 81.2% Increase in Diluted Net Income Per Share to $1.25 in Fiscal Year 2023 [Yahoo! Finance]Yahoo! Finance
- China Automotive Systems, Inc. (NASDAQ: CAAS) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating.MarketBeat
- Investors in China Automotive Systems (NASDAQ:CAAS) have unfortunately lost 41% over the last three years [Yahoo! Finance]Yahoo! Finance
CAAS
Earnings
- 5/12/23 - Beat
CAAS
Sec Filings
- 3/28/24 - Form 8-K
- 3/28/24 - Form 10-K
- CAAS's page on the SEC website