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Posco 4Q Operating Profit Beat Market Consensus — Earnings Review

By Kwanwoo Jun


Posco reported its fourth-quarter results on Thursday. Here is what you need to know:


OPERATING PROFIT: The South Korean steelmaker posted operating profit of 863.40 billion won ($778.9 million), up 55% from a year earlier.


REVENUE: Fourth-quarter revenue fell 4.9% from a year ago to KRW15.264 trillion.



--ABOVE CONSENSUS: The operating profit beat a FactSet consensus forecast for KRW838.11 billion.

--AUTO SHIPMENTS: The strong quarterly earnings were driven by growing shipments of high-margin steel products for vehicles.

--DEMAND: Posco said pandemic-suppressed steel demand and lower average selling prices weighed on its 2020 earnings despite demand recovery in the auto industry in the second half.


Write to Kwanwoo Jun at


(END) Dow Jones Newswires

January 28, 2021 05:54 ET (10:54 GMT)

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