Hyundai Steel Reports Operating Profit In Q1; Sales Up 3.2%

Hyundai Steel reported a first-quarter net loss attributable to parent shareholders of 41.0 billion won, improving from a 55.1 billion won loss a year earlier. The company said FX volatility and higher raw material costs offset volume. The update is mildly negative, reflecting continued profitability pressure despite a smaller loss.

Analysis

Hyundai Steel reported a first-quarter net loss attributable to parent shareholders of 41.0 billion won, improving from a 55.1 billion won loss a year earlier. The company said FX volatility and higher raw material costs offset volume. The update is mildly negative, reflecting continued profitability pressure despite a smaller loss.