BMW Reports Solid 1Q Results Despite Currency and Spending Headwinds; EUR 110 FVE Maintained
Narrow-moat-rated BMW, maker of premium Mini cars, BMW luxury passenger vehicles and premium motorcycles, and ultraluxury Rolls-Royce cars, reported record first-quarter earnings per share before special items of EUR 3.47, trouncing the sell-side consensus of EUR 3.23 by EUR 0.24 and EUR 0.21 better than last year. We think the outperformance versus the market’s expectations was driven by volume strength and cost containment despite headwinds including higher research and development spending, i...Bayerische Motoren Werke is a holding company, engaged in the development, manufacture and sale of cars and motorcycles. Co. owns three brands: BMW, MINI and Rolls-Royce. Co.'s BMW automobile range encompasses the 1 Series, including coupe and convertible models; the 3 Series, including sedan, touring, coupe and convertible models; the 5 Series, including sedan and touring models; the 6 Series, including coupe or convertible; the 7 Series large sedan; the Z4 roadster and coupe; the sports utility vehicles, X3, X5 and X6 and M models. Co. also provides cars under the MINI brand and motorcycles under the BMW brand. The Rolls-Royce brand provides three cars, Phantom, Coupe and Ghost.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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