Samsung SDI Likely to Post 4Q Earnings Miss -- Market Talk

Dow Jones01-09 12:18

0418 GMT - Samsung SDI is set to post a 4Q earnings miss due to weak battery shipments and a one-off recall cost, Hanwha Investment & Securities analyst Y.W. Lee says in a note. The South Korean battery maker, a joint-venture partner of Dutch-based Chrysler parent Stellantis, is expected to recognize a KRW150 billion provision for Stellantis's recent recall of plug-in hybrid electric vehicles because of a battery component, Lee notes. Stellantis is also delaying its launch of Ram 1500 battery-electric pickup trucks. He expects Samsung SDI to post an operating loss of KRW204.10 billion in 4Q, missing the market consensus forecast of a KRW80.90 profit. He cuts his stock target price by 30% to KRW350,000. Shares are 3.8% lower at KRW240,000. (kwanwoo.jun@wsj.com)

(END) Dow Jones Newswires

January 08, 2025 23:18 ET (04:18 GMT)

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