Hyundai Rotem 1Q Earnings Could Be in Line With Consensus — Market Talk

Hyundai Rotem's 1Q earnings could be largely in line with street views, Nomura's Eon Hwang and Y.J. Kim say. The South Korean armored-vehicle maker's operating profit likely rose 14% from a year earlier to 232 billion won for the January-March period, compared with the market consensus forecast of 223 billion won, the analysts say. They say the stock is undervalued relative to its major peers and expect it to recover thanks to overseas defense contract wins. Revenue from defense exports is expected to rise due to a series of K2 tank shipments to Poland, with new contracts for Iraq likely to be signed in mid-2026, they add.(kwanwoo.jun@wsj.com)