PKX - South Korea's Posco wins $32.6B order from Samsung SDI

Posco Chemical ( NYSE: PKX ) said Monday it won a 40T won order (~$32.6B) from Samsung SDI to supply cathode materials for electric vehicle batteries during the 2023-32 decade.

The company said the deal value could change due to further negotiations and fluctuating prices of raw materials.

Separately, Posco ( PKX ) reported Friday a nearly 50% decline in operating profit for FY 2022 due to a four-month suspension of its major steel plant in the country following a typhoon and flooding in September.

South Korea's largest steel producer reported an operating profit of 4.9T won ($3.97B) for 2022, compared with a 9.2T won profit a year earlier.

The company also issued guidance for 85.8T won in revenues this year, similar to 84.8T won amassed in 2022.

There are catalysts in place to drive a positive re-rating of Posco's ( PKX ) stock valuation, The Value Pendulum writes in an analysis published recently on Seeking Alpha .

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