Mercedes-Benz Car Performance Misses Expectations But Free Cash Flow is Strong -- Market Talk

Dow Jones10-25

0749 GMT - Mercedes's car margin missed expectations but this is compensated by strong free cash flow, Jefferies analysts say in a note. The car margin of 4.7% compares to the 5.4% consensus had expected. The cars adjusted EBIT of 1.2 billion euros also missed the consensus estimate of 1.4 billion euros. The negative factors that weighed on profitability in the quarter were bigger in magnitude than expected, the analysts say. There was no change to the outlook that was revised a few weeks ago, and Jefferies says the cars division needs a fourth-quarter margin of 6%-10% to meet its full-year guidance. Shares fall 2.7% to 56.81 euros. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

October 25, 2024 03:49 ET (07:49 GMT)

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There was no change to the outlook that was revised a few weeks ago, and Jefferies says the cars division needs a fourth-quarter margin of 6%-10% to meet its full-year guidance. Shares fall 2.7% to 56.81 euros. 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