Continental Cuts 2019 Guidance, Reports Preliminary 2Q Results; Maintaining EUR 158 FVE
Narrow-moat Continental cut 2019 guidance due primarily to the decline in global light vehicle production, reducing its full-year production outlook from flat to down 5%. Management's 2019 guidance includes revenue in a range of EUR 44 billion to EUR 45 billion, down from the prior range of EUR 45 billion to EUR 47 billion. The company now expects adjusted EBIT margin in a range of 7.0% to 7.5%, dropping from the prior range of 8% to 9%. The new margin guidance represents contraction of 180 to 2...Continental is an automotive industry supplier. Co.'s automotive divisions comprised of: Chassis & Safety, which develops and produces systems that provide safety and enhanced vehicle dynamics; Powertrain, which develops solutions for gasoline and diesel engines, as well as hybrid and electrical drive systems; and Interior, which provides solutions for information management within vehicles and networking between vehicles. Co.'s rubber divisions comprised of: Tires, which provides tires for passenger cars through trucks, buses and construction site vehicles to special vehicles, motorcycles and bicycles; and ContiTech, which develops products made from rubber and plastic.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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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