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POSCO ( (PKX) ) has provided an announcement.
POSCO Holdings Inc. reported a decline in earnings for 2024, with significant downturns in both its steel and energy materials sectors. Revenue dropped by 5.8% compared to 2023, while operating profit fell by 38.5%. The company attributed these declines to market downturns and one-time losses related to asset impairments and inventory valuation. Despite these challenges, POSCO is investing in low-carbon steelmaking technology and expanding its offshore growth markets, such as the Myanmar gas field and energy material plants.
More about POSCO
POSCO Holdings Inc. operates in the steel industry and is a leading global steel manufacturer. The company’s primary products include steel and energy materials, with a focus on infrastructure development and international business expansion.
YTD Price Performance: 4.61%
Average Trading Volume: 303,217
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $13.1B
For a thorough assessment of PKX stock, go to TipRanks’ Stock Analysis page.
