Continental Reports Preliminary 1Q Headline Results, 2019 Guide Unchanged; EUR 158 FVE Maintained
Narrow-moat-rated Continental announced preliminary revenue and adjusted EBIT results for the first quarter of 2019. Revenue was roughly flat with the year-ago period at EUR 11.0 billion, but excluding changes in the scope of consolidation and favorable currency exchange, it would have declined 2%. We view the result as favorable given that first quarter global light vehicle production declined 7.0%. Adjusted EBIT (before special items) plunged 17.1%, to EUR 884 million, versus EUR 1.07 billion ...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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