- China Automotive Systems Inc (NASDAQ:CAAS) reported second-quarter FY22 sales growth of 5.5% year-on-year to $127.16 million, beating the consensus of $104.39 million.
- The gross profit margin expanded by 480 basis points Y/Y to 17.9%, and the gross profit increased 43.7% to $22.7 million.
- The operating margin was 5.7%, and operating income for the quarter was $7.2 million versus $0.1 million last year.
- The company held $143.8 million in cash and equivalents as of June 30, 2022. Cash provided by operating activities for six months totaled $14.5 million.
- The company reported EPS of $0.31, beating the consensus of $(0.05).
- Outlook: China Automotive sees FY22 sales of $500 million versus the consensus of $492.83 million.
- Price Action: CAAS shares are trading higher by 6.21% at $3.18 in premarket on the last check Friday.
Insurance Stocks Moving In Tuesday’s Intraday Session
According to Benzinga Pro following are the gainers and losers in Insurance industry for today’s Intraday session. Gainers…
