Johnson Electric drops most in 39 years on weak earnings outlook
BUZZ-Johnson Electric drops most in 39 years on weak earnings outlook ** Shares of Johnson Electric Holdings 0179.HK dive 22% to HK$13.23, on track for the biggest one-day pct drop since November 1987
** Stock of the motion systems manufacturer sinks to the lowest since Arpil 2025
** Top pct loser in Hang Seng Composite Index .HSCI, which gains 0.7%
** The electric power steering motors and electric parking brake motors maker expects its profit attributable for six months ended in September to drop 56%-62% y/y to $50 million-$58 million amid exposure to foreign exchange risk arising from sales and costs denominated in multiple currencies
** Various operational and market-related factors, including pricing actions taken in response to competitive market conditions, provisions for customer credits and claims that remain under negotiation and elevated raw material costs, among others, have also led to the reduction - Co
** YTD, stock down 55.2%, benchmark Hang Seng Index .HSI down 4.9%
(Reporting by Donny Kwok)
Recent news on Johnson Electric Holdings
See all newsJohnson Electric drops most in 39 years on weak earnings outlook
Brief: Johnson Electric Expects Profit Attributable $50 Million-$58 Million For Six Months Ended Sept 30
Brief: Johnson Electric Expects Full-Year Profit Of $207-$197 Million, Down 21%-25%
Brief: Johnson Electric Posts Sales For Nine Months $2,726 Million
Brief: Johnson Electric Posts Group's Sales For 3 Months Ended 30 June US$915 Million