Porsche Q3 results missed analysts estimates, guidance for the full-year reiterated
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Porsche’s Q3 2024 revenue fell 6% to 9.11 billion (calculated), missing analysts estimate of
9.24 billion while operating profit declined 41% to 974 million. -
Its operating return on sales was 10.7%, below analysts estimate of 11.3%.
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When I adjust for the usual difference between figures at the group level and at the subsidiary level, Porsche’s Q3 revenue will likely miss my estimate by 100 million euros while operating return on sales of 10.7% is below by estimate of 12.9%.
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Porsche reiterated its forecast for 2024.
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Porsche said in the publication that it continue to face ongoing supply challenges.
"In China, we are dealing with a structural shift in demand. In addition, the global transformation towards electric vehicles is proceeding more slowly than originally assumed. For this reason, we are reviewing our product line-up and ecosystem, as well as our budgets and cost position. All with the aim of increasing our flexibility and resilience even further,” CFO Lutz Meschke said in the press release.