Signs of Life in China Orders; Schindler Posts Solid 3Q Results; Shares Overvalued
Schindler's third-quarter 2017 results were slightly ahead of expectations and, importantly, included a pickup in new installations in China. Orders grew 4.8% on an organic basis, largely due to China, where the number of new installations was lifted by large-scale infrastructure projects. Schindler's program to simplify its manufacturing footprint has increased margins on a year-over-year basis for the past three quarters with the EBIT margin up 20 basis points in the third quarter to 12.0%. We...
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