HANOVER (dpa-AFX) - Continental (CTTAY.PK) reported that its net income in the third quarter was 486 million euros compared to 299 million euros, prior year, up 62.8 percent. Earnings per share was 2.43 euros compared to 1.49 euros. Adjusted operating result was 873 million euros, up 36.0 percent, corresponding to an adjusted EBIT margin of 8.9 percent compared to 6.3 percent.
Third quarter consolidated sales were 9.8 billion euros, down 4.0 percent. The global production of passenger cars and light commercial vehicles in the third quarter was down sharply on the previous year, falling by around 5 percent to 21.6 million units.
Continental has adjusted its outlook for fiscal 2024. For the Continental Group, sales are projected in the range of around 39.5 billion euros to 42.0 billion euros, revised from prior guidance range of 40.0 billion euros to 42.5 billion euros. The adjusted EBIT margin is expected to be around 6.0 to 7.0 percent. For 2024 as a whole, Continental expects the production of passenger cars and light commercial vehicles to decrease year-on-year.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
