BMW Backs Guidance Despite Drop in Automotive Profitability
By Dominic Chopping
BMW's key automotive unit reported slightly lower-than-forecast profitability in the first quarter as manufacturing costs rose on the year, but the group maintained full-year guidance.
The German luxury-car maker Wednesday reported an operating margin of 8.8% in the division, short of a company-compiled consensus of 9.2%.
Deliveries of its BMW, Rolls-Royce, and Mini brands rose 1.1% to 594,533 units in the quarter, buoyed by growth in most major automotive markets and increased sales of mid-priced cars.
The company's group earnings before interest and tax margin slipped to 11.4% from 13.9%, but the figure still landed above its strategic target of 10% and beat consensus that had been looking for 10.8%.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
May 08, 2024 01:53 ET (05:53 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
These Stocks Are (Still) Powering the Bull Market
-
5 Undervalued Energy Stocks to Play the AI Data Center Demand Boom
-
After Earnings, Is Lowe’s Stock a Buy, Sell, or Fairly Valued?
-
5 Stocks With the Largest Fair Value Estimate Cuts After Q1 Earnings
-
10 Stocks With the Largest Fair Value Estimate Increases After Q1 Earnings
-
Markets Brief: Inflation Back in the Spotlight
-
AI Is Booming, but Consumer Spending Is Slowing. Which Will Prevail in the Stock Market?
-
What’s Happening In the Markets This Week
-
3 Dividend Stocks for June 2024
-
After Earnings, Is Alibaba Stock a Buy, Sell, or Fairly Valued?
-
MongoDB Earnings: Slashing Valuation as Execution and Macro to Blame for Lower Guidance
-
Marvell Earnings: We Raise Our Medium-Term AI Forecast and Bring Our Valuation Up to $75
-
Zscaler Earnings: Impressive Traction in Emerging Products Drives Sales Growth for the Quarter
-
Dell Earnings: Raising Valuation on Strong AI, but the Stock Remains Severely Overvalued
-
After Earnings, Is Nvidia Stock a Buy, Sell, or Fairly Valued?
-
The 10 Best Companies to Invest in Now