Continental Third-Quarter Results Hit by Confluence of Negative Events; EUR 140 Fair Value Unchanged
We calculate that narrow-moat-rated Continental’s earnings per share before special items for the third quarter of 2016 were EUR 3.43, EUR 0.10 higher than the EUR 3.33 reported in the same period last year. Consolidated revenue was 3% higher than in the year-ago period but would have been 1 percentage point higher excluding the negative currency impact. Even so, management had warned the market about several unrelated events that included warranty issues, litigation costs, and constrained micro...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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