Jungheinrich Lowers Outlook for 2019; Long-term Opportunity Remains; Shares Cheap
Jungheinrich lowered its mid-point guidance for 2019 orders and EBIT by 5% and 12%, respectively, because of a significant drop in orders in June and with weakness expected for the rest of the year. Revenue guidance remained unchanged, putting revenue growth just shy of 4% at the mid-point of guidance. Operating leverage combined with the added costs to keep up with unusually high demand in the past few years has worked against margins more severely than our expectations. We plan to lower our 20...Jungheinrich is engaged in the development of new trucks and logistics solutions. Co.'s operating activities are divided into two segments: Intralogistics, which is engaged in the development, production and sale of new trucks including logistics systems as well as the mail-order business, short-term hire which include the rental of new and used material handling equipment, reconditioning and sale of used equipment and the provision of after-sales services including the maintenance, repair and spare parts businesses; and Financial Services, which encompasses the usage transfer and sales financing of material handling equipment and warehousing technology products.
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