Volkswagen AG

VOW: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€549.00	Wsmg	Hvyjtslw

Volkswagen's Q3 Results Improve on Price and Mix, 2022 Guidance Tweaked; Raising FVE to EUR 328

Richard Hilgert

Oct 31, 2022

No-moat Volkswagen reported third-quarter earnings per share before special items of EUR 7.13, beating the EUR 6.40 FactSet consensus by EUR 0.73 and up EUR 1.62 from the EUR 5.51 reported last year. Consolidated revenue jumped 24% to EUR 70.7 billion from EUR 56.9 billion a year ago, beating the consensus by 1%, on strong pricing and mix. Consolidated deliveries increased 13% to 1.3 million versus 1.2 million last year when the chip crunch was at its worst.

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