South Korea's Hyundai Motor swings to net loss in third quarter, misses consensus

FILE PHOTO: A staff member dusts off a Hyundai car at the Beijing International Automotive Exhibition, or Auto China show, in Beijing, China September 27, 2020. REUTERS/Tingshu Wang/File Photo

SEOUL (Reuters) – South Korea’s Hyundai Motor Co 005380.KS said on Monday it swung to a net loss in the July-September quarter, missing analysts’ estimates by a large margin as a charge related to engine issues weighed on earnings.

Hyundai, the world’s fifth-biggest automaker when combined with affiliate Kia Motors Corp 000270.KS, reported a net loss of 336 billion won ($297.72 million) for the third quarter, far below the 1 trillion won profit average of 12 analyst estimates complied by Refinitiv.

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