China Automotive Systems Q1 EPS Exceed Expectations On Higher Margins, Strict Cost Control

中國汽車系統第一季度每股收益超出預期，利潤率提高，成本控制嚴格

Benzinga · 2023/05/12 20:19

China Automotive Systems, Inc. (NASDAQ:CAAS) reported a first-quarter FY23 sales growth of 4.3% year-on-year to $142.24 million, missing the consensus of $142.67 million.
Headquartered in Jingzhou, the automotive company reported an EPS of $0.23, beating the analyst consensus of $0.12.
Higher margins, cost control initiatives, an increase in average selling price, a favorable product mix, and lower unit costs bolstered quarterly earnings.
Gross profit increased by 46.9% to $21.6 million with a gross margin of 15.2%, expanding 440 basis points Y/Y.
Income from operations was $7.7 million compared with a loss from operations of $(1.5) million.
As of quarter-end, the company held $164.3 million in cash and equivalents.
"Our electric power steering ("EPS") products continue to gain market share, and our traditional hydraulic steering products' market share grew as well. In addition to a better product mix, our margins benefitted from stricter cost controls in the first quarter of 2023," said CEO Qizhou Wu.
Outlook: China Automotive Systems reiterated its FY23 guidance. The company sees revenue of $560 million, below the consensus of $566.7 million.
Price Action: CAAS shares are trading higher by 3.19% at $4.85 on the last check Friday.

中國汽車系統有限公司 納斯達克股票代碼：CAAS）報告稱，23財年第一季度銷售額同比增長4.3％，達到1.4224億美元，未達到共識的1.4267億美元。
這家總部位於荊州的汽車公司公佈的每股收益爲0.23美元，超過了分析師共識的0.12美元。
更高的利潤率、成本控制舉措、平均銷售價格的上漲、有利的產品組合和較低的單位成本提振了季度收益。
毛利增長了46.9％，達到2160萬美元，毛利率爲15.2％，同比增長440個基點。
運營收入爲770萬美元，而運營虧損爲150萬美元。
截至季度末，該公司持有1.643億美元的現金及等價物。
“我們的電動助力轉向（“EPS”）產品繼續獲得市場份額，我們傳統的液壓轉向產品的市場份額也有所增長。除了更好的產品組合外，我們的利潤率還受益於2023年第一季度更嚴格的成本控制。” 首席執行官吳啓洲說。
外表：中國汽車系統重申了其23財年的指導方針。該公司預計收入爲5.6億美元，低於共識的5.667億美元。
價格走勢： 在週五的最後一張支票上，CAAS股價上漲了3.19％，至4.85美元。

譯文內容由第三人軟體翻譯。

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