POSCO posts 41% drop in first-quarter profits as virus curbs steel demand [Reuters]
POSCO Holdings Inc. American Depositary Shares (Each representing 1/4th of a share of) (PKX)
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Source: Reuters
POSCO posts 41% drop in first-quarter profits as virus curbs steel demand SEOUL (Reuters) - South Korean steelmaker POSCO on Friday posted a 41.4% fall in its first-quarter operating profit, hit by a slump in steel demand amid the coronavirus pandemic, and forecast a further hit to sales. The world’s fifth-biggest steelmaker said it expected a continued slowdown in steel demand due to the outbreak, and revised down its consolidated sales outlook to 57.5 trillion won ($46.5 billion) from its January forecast of 63.4 trillion won. Consolidated operating profit came in at 705 billion won in the first quarter, down from 1.2 trillion won a year earlier POSCO said in a statement. That beat an average estimate of 578 billion won from 14 analysts, according to Refinitiv SmartEstimate. POSCO’s first-quarter revenue fell 9.2% year-on-year to 14.5 trillion won, and its net profit dropped 44.2% to 435 billion won. The coronavirus pandemic, which has sickened more than 2.6 million people worldwide
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- POSCO (NYSE:PKX) was upgraded by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a> from a "sell (d+)" rating to a "hold (c-)" rating.MarketBeat
- Three Workers Hospitalised After Inhaling Gas At S. Korean Steel Plant [Barron's]Barrons
PKX
Sec Filings
- 11/28/25 - Form 6-K
- 11/12/25 - Form 6-K
- 11/12/25 - Form 6-K
- PKX's page on the SEC website