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China Automotive Systems (CAAS)
NASDAQ:CAAS
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Earnings Data
Report Date
Mar 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 13, 2024
|% Change Since: -10.61%
|Next Earnings Date:Mar 27, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with strong sales growth and increased revenue guidance, offset by challenges such as declining North American sales, decreased net income, and foreign exchange volatility. While the company is expanding its market share and celebrated its NASDAQ anniversary, it faces margin pressures and tax-related issues.Company Guidance
During the China Automotive Systems (CAAS) third-quarter 2024 earnings call, significant guidance was provided regarding financial performance and future expectations. The company reported a 19.4% year-over-year increase in net sales, reaching $164.2 million, driven by a 43.5% surge in electric power steering (EPS) product sales. Operating income improved by almost 9% to $11.1 million, although diluted net income per share fell to $0.18 from $0.31 in the previous year. The gross margin declined from 18% to 16% due to changes in product mix, while operating expenses were reduced by 5.8%. The company raised its full-year revenue guidance to $630 million from $605 million, reflecting confidence in sustainable sales growth, particularly in the domestic Chinese market, where sales grew by 19% year-over-year. Despite a decline in North American sales, international operations, notably in Brazil, showed growth. The company is actively managing foreign exchange volatility and tax liabilities, including a $1.4 million one-time tax payment related to a special dividend.Strong Year-over-Year Sales Growth
Net sales increased by 19.4% year-over-year in the third quarter of 2024, with electric power steering (EPS) products sales surging by 43.5%.
Increased Domestic Market Share
Domestic sales to passenger vehicles were up by 29.6% year-over-year, with significant growth in traditional and EPS products.
Increased Revenue Guidance
Management raised the revenue guidance for the full year 2024 to $630 million from $605 million, indicating confidence in continued growth.
Celebrated 20th Anniversary on NASDAQ
The company celebrated its 20th anniversary of being listed on NASDAQ, highlighting its global reach and partnerships with major vehicle leaders.
Significant Increase in Operating Income
Income from operations increased by 22.9% year-over-year for the first nine months of 2024.
Special Dividend Payment
A special cash dividend of $0.80 per common share was paid in August 2024, reflecting confidence in sustainable sales growth and cash flow generation.
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CAAS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CAAS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | $4.62 | $4.41 | -4.55% |
| Aug 13, 2024 | $3.78 | $3.98 | +5.29% |
| May 14, 2024 | $2.86 | $2.88 | +0.70% |
| Mar 28, 2024 | $2.81 | $2.96 | +5.34% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does China Automotive Systems (CAAS) report earnings?
China Automotive Systems (CAAS) is schdueled to report earning on Mar 27, 2025, TBA Not Confirmed.
What is China Automotive Systems (CAAS) earnings time?
China Automotive Systems (CAAS) earnings time is at Mar 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CAAS EPS forecast?
Currently, no data Available
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