Investments in cleaner vehicles hit BMW profits [Reuters]
Evercore Inc. Class A (EVR)
Last evercore inc. class a earnings: 4/22 06:00 am
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Source: Reuters
Investments in cleaner vehicles hit BMW profits - Reuters 3 Min Read FRANKFURT (Reuters) - BMW’s ( BMWG.DE ) second quarter earnings fell by a fifth, hit by exchange rate moves and investments in manufacturing electric and hybrid cars to help meet stricter emissions limits. However, the German automaker stuck to its full-year forecasts, avoiding the profit warnings that have beset the industry and helping to push its shares higher on Thursday. “There are no major hiccups and as the product momentum is improving, so will profitability and cashflow. In an extremely volatile auto world, this is very good news,” analysts at Evercore ISI said in a note to clients. Carmakers are having to make huge investments into cleaner and self-driving technologies just as demand in China, the world’s biggest auto market, is falling and a trade war between Washington and Beijing is curbing global economic growth. German rival Daimler ( DAIGn.DE ) and industry supplier Continental ( CONG.DE ) have b
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EVR
Earnings
- 10/23/24 - Beat
EVR
Sec Filings
- 11/22/24 - Form 4
- 11/22/24 - Form 144
- 11/21/24 - Form 144
- EVR's page on the SEC website