0821 GMT - Volkswagen had a solid quarter despite its 4.2% group margin coming in below expectations of 4.7% and operating profit at 3.5 billion euros versus the 3.8 billion euros anticipated, J.P. Morgan analysts write. Net cash flow of 1.2 billion euros is ahead of the expected 600 million euros. Sales revenue this year is now expected to fall up to 3%, largely due to weakness in China. Operating return on sales guidance is unchanged at 4.0%-5.5%. The strength of VW, Porsche and Traton is offsetting the weaker start for Audi, the bank says. "We expect the market to focus on the negotiation of the restructuring measures which may impact the full-year guidance of the group but will sustain strong earnings momentum." Shares in the German automaker fall 0.7%. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
July 24, 2026 04:21 ET (08:21 GMT)
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