Volkswagen Reports Solid 2Q Results, Points to Upper End of Guidance; EUR 221 Fair Value Unchanged
No-moat-rated Volkswagen, maker of Audi, Bugatti, Lamborghini, Porsche, SEAT, Skoda, and Volkswagen automobiles, plus MAN, Scania, and Volkswagen commercial trucks, reported earnings per diluted preferred share before special items, or EPS, of EUR 6.24. The result was sharply lower than the consensus EPS estimate of EUR 6.80 but was well above the EUR 5.78 reported in the second quarter of 2016. Management released a statement regarding alleged German automaker collusion saying that it is common...
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