Oddo BHF - Schaeffler AG (SHA) Schaeffler AG : Weak Q2 2024 earnings and cutting their FY 2024 guidance

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Oddo BHF

Klaus Ringel ...

Michael Foundoukidis

Schaeffler AG : Weak Q2 2024 earnings and cutting their FY 2024 guidance

>Preliminary Q2 2024 earnings below expectations - Schaeffler’s Q2 2024 group sales are +3% y-o-y to € 4.19bn (organic growth +4.2%), which is +1% vs our expectation and c. 3% ahead of the recently updated Vara consensus. Schaeffler says their group adj. EBIT margin came at 4.9% in the period under review (ODDO BHF& cons.: 6.6%; Q2 2023: 7.1%), which implies an adj. EBIT of c. € 204m in Q2 2024 (-26% vs ODDO BHF; -23% vs cons.). Schaeffler blames a weaker-than-expect...

23/07/2024 1 EN

Underlying

Schaeffler AG

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DE000SHA0159 Germany

Provider

Oddo BHF

Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

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Analysts

Klaus Ringel

Michael Foundoukidis

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Schaeffler AG : Weak Q2 2024 earnings and cutting their FY 2024 guidance

IHO / Schaeffler : We adopt Buy recommendations on the new IHO PIK toggle notes

IHO / Schaeffler : We adopt Buy recommendations on the new IHO PIK toggle notes

EQS-News: Verschmelzung der Vitesco Technologies Group AG auf dieSchaeffler AG erfolgreich vollzogen

Atos : Execution risk and debt levels still too high to come back to the stock

Webuild : Building resistance: no significant impacts expected from the tariff war

Webuild : Building resistance: no significant impacts expected from the tariff war

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