PKX Stock Recent News

Posco (PKX) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.

Posco's Q3 sales and earnings fell year over year -- but investors don't care. As steel earnings fall by more than half, investors are betting on Posco transforming itself into a battery company.

Posco (NYSE: PKX ) stock is on the rise Monday following the release of the metal manufacturing company's earnings report for the second quarter of 2023. That's despite the company reporting a net profit of 776 billion South Korean won during the quarter.

POSCO Holdings Inc. (NYSE:PKX ) Q1 2023 Earnings Conference Call April 27, 2023 3:00 AM ET Company Participants Jeong Ki-Seop - President, Co-CEO, CSO Han Young-Ah - Head of Investor Relations Eom Gichen - Head of marketing strategy Kyungsub Lee - Chief of LiB Materials Business Kyung-Jin Chung - Executive Officer and Head of Finance Office Chon, Jung-Son - Head of Corporate Strategy Kyung-han Kim - Head of the International Trade Affairs Office Conference Call Participants Pat Canon - Hyundai Motor Securities Sung Hun Kim - Hai Investment Lee SangHun - Citi Group Jeong Ki-Seop Good afternoon, ladies and gentlemen, the 2023 Q1 Earnings Release Conference Call will now begin. POSCO Holdings will first present, which will be followed by a Q&A session with the participants.

Posco is South Korea's US $22B flagship steel producer borne from state fund economic revitalization plans in the late 60s. Since then, the company has undergone a period of transformation extending its reach into battery minerals and decarbonization.

POSCO Holdings' steel business should witness a substantial increase in its 2023 operating earnings, thanks to price hikes, demand recovery, and the resumption of operations at its Pohang steel mill. PKX's key non-steel businesses such as POSCO Chemical, POSCO International, and its recycling business are also expected to perform well this year.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

The first catalyst for PKX is the potential issuance of favorable financial guidance for Q1 2023 when the company reports Q4 2022 earnings in the following week. The second potential catalyst is the narrowing of the conglomerate discount assigned to POSCO Holdings' shares following the merger of its subsidiaries, POSCO Energy and POSCO International.

POSCO Holdings Inc. (NYSE:PKX ) Q3 2022 Earnings Conference Call October 24, 2022 3:00 AM ET Company Participants Han Young-Ah - Head of IR team, SVP Lee Kyung-Seop - Head of the LiB Materials Business Project Team Conference Call Participants Pat Canon - Hyundai Kim SungYung - Hai Investment Yi Jiang Wang - NHN Operator Ladies and gentlemen, now we will begin POSCO Holdings Earnings Release for Q3 of 2022. Today's conference call will begin with the earnings presentation of POSCO Holdings followed by a Q -- question-and-answer session.

I am positive on POSCO's recent two corporate actions, namely the planned merger of two of its subsidiaries, and the cancellation of treasury shares. But my view of PKX's 2H 2022 outlook is negative, considering expectations of slower top line growth and a larger earnings drop for the company in 2H 2022.