Volkswagen Reports Solid 3Q Results, Raises 2016 Guidance; Maintaining EUR 190 Fair Value
No-moat-rated Volkswagen reported earnings per diluted preferred shares before special items of EUR 5.42. The results handily beat the consensus EPS estimate of EUR 4.60 and was EUR 1.66 better than the third quarter reported in 2015. The company tweaked 2016 guidance higher, continuing to forecast slightly higher volume but now expects consolidated revenue to be flat compared to 2015, depending on currency impact. Prior guidance had revenue declining by as much as 5%. Management also said that ...
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