China Automotive Systems Reports Unaudited 2020 Third Quarter Results

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Go back to China Automotive Systems Reports Unaudited 2020 Third Quarter Results

China Automotive Systems (CAAS) Tops Q3 EPS by 7c, Revenues Beat; Raises FY20 Revenue Guidance

November 12, 2020 6:06 AM EST

China Automotive Systems (NASDAQ: CAAS) reported Q3 EPS of $0.08, $0.07 better than the analyst estimate of $0.01. Revenue for the quarter came in at $114.4 million versus the consensus estimate of $109.77 million.

Third Quarter 2020 Highlights

Net sales increased 13.8% to $114.4 million compared with $100.5 million in the third quarter of 2019;Gross profit decreased to $13.6 million and gross margin declined to 11.9% from 17.2% in the third quarter of 2019;Income from operations was $0.1 million compared to income from operations of $4.4 million in the third quarter of 2019;Net income attributable to parent company's common shareholders was $2.4... More