Vestas Earnings: Margin Improvement Overshadowed by Narrowed Guidance Range
Vestas' third-quarter adjusted EBIT rose 16% year over year to EUR 483 million, with the margin improving 70 basis points to 8.5%. EBIT missed consensus by 8%, while management narrowed its full-year guidance around the unchanged midpoints, sending shares down 3% at time of writing Nov. 11.