[Featured Stock] Samsung C&T Dips Over 6% Amid Q3 Earnings Slump

Samsung C&T is showing weakness with third-quarter results below market expectations this year.

As of 9:15 a.m. on the 31st, Samsung C&T is trading at 121,100 KRW, down 8,800 KRW (6.77%) from the previous day.

The third-quarter earnings fell short of market forecasts, which appears to have contributed to the stock price decline. Samsung C&T reported consolidated sales of 10.3 trillion KRW, down 6.0% year-on-year, and operating profit of 736.2 billion KRW, down 11.4% in the third quarter. Jang Moon-jun, a researcher at KB Securities, said, "While the top line met market expectations, operating profit and net profit attributable to controlling shareholders fell short of market expectations." He analyzed, "Despite profit growth in the bio sector compared to the same period last year, the sharp decline in construction sales due to the completion of large projects and poor trading performance caused by weakened raw material demand combined to slightly miss market expectations this quarter."

However, there are forecasts for performance improvement in the fourth quarter. Kim Dong-yang, a researcher at NH Investment & Securities, predicted, "In the fourth quarter, operating profit is expected to rebound to 712.9 billion KRW, a 14% increase year-on-year, driven by construction base effects, expansion of the housing business, and maintenance of construction profitability."