BMW Posts Mixed 3Q Results, Confirms Guidance; Maintain EUR 117 FVE
Narrow-moat-rated BMW reported third-quarter earnings per share before special items of EUR 2.12; this missed the sell-side consensus of EUR 2.31 by EUR 0.19 and was EUR 0.64 lower than a year ago. Group revenue improved by 5% compared with the prior year to EUR 24.7 billion on automotive unit volume that was nearly flat, up just 0.3% versus the third quarter of 2017. We estimate that excluding favorable euro/dollar currency exchange rates, revenue would have grown 4%. Headwinds including new, m...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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