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home / news releases / PKX - POSCO Holdings: Operating Income Recovery Overshadowed By Cautious Capex Outlook

PKX - POSCO Holdings: Operating Income Recovery Overshadowed By Cautious Capex Outlook

POSCO

2024-05-01 16:15:11 ET

Summary

  • POSCO Holdings' operating profit for Q1 2024 increased by 92% QoQ, as its steel, battery materials, and energy businesses performed well.
  • But PKX's actual capital expenditures for full-year 2024 might turn out to be below its initial KRW10.8 trillion target, which has negative read-throughs for its business outlook.
  • The recovery in first quarter operating income for PKX has been overshadowed by management's cautious view on 2024 capital expenditures, so I have maintained a Hold rating.

Elevator Pitch

I have a Hold investment rating for POSCO Holdings Inc. ( PKX ) [005490:KS] shares....

For further details see:

POSCO Holdings: Operating Income Recovery Overshadowed By Cautious Capex Outlook
Stock Information
Company Name: POSCO
Stock Symbol: PKX
Market: NYSE
Website: posco.com
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