Schaeffler AG : Q3 2024 earnings below expectations, but group reiterates its FY 2024 guidance
>Soft Q3 2024 earnings below expectations - Schaeffler’s Q3 2024 group sales are -3% y-o-y to € 3.96bn (in line with ODDO BF; -1% vs css) with +1% y-o-y organic growth and group adj. EBIT is -45% y-o-y to € 187m (-7% vs ODDO BHF; -11% vs css) with an adj. EBIT margin of 4.7% (-40bp vs ODDO BHF; -60bp vs css). The negative delta vs our expectations is mainly explained by the Auto Tech division, where sales are -1% and adj. EBIT -32% vs our expectations. On the other ha...
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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