Daimler: Oddo expects sharp drop in Q1 EBIT
(CercleFinance.com) - Daimler will announce its Q1 2019 results on Friday 26 April.
Oddo expects the group to report EBIT that is down 22% at 2,592 million
euros, with adjusted EBIT falling even more (-32%) to 2,367 million
euros. The fall in restated EBIT (-32%, i.e. a drop of -1,097 million
euros) should come from all divisions, particularly Auto and Truck
businesses, the broker said.
Prior to this publication, Oddo confirms its buy rating on the stock,
along with target price of 65 euros.
In its daily equity report, Oddo adds that FCF should logically be
significantly negative because of the decline in earnings, capex which
remains high and a one-off increase in inventories.
The broker said that in 2019 Daimler expects a slight increase in
volumes and sales (+2% to +7.5%), EBIT (+5% to +15%, i.e. +550 million
euros to +1,670 million euros, including the 700 million euros of
one-off/Mobility Services) and FCF (no figure provided).
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Oddo expects the group to report EBIT that is down 22% at 2,592 million
euros, with adjusted EBIT falling even more (-32%) to 2,367 million
euros. The fall in restated EBIT (-32%, i.e. a drop of -1,097 million
euros) should come from all divisions, particularly Auto and Truck
businesses, the broker said.
Prior to this publication, Oddo confirms its buy rating on the stock,
along with target price of 65 euros.
In its daily equity report, Oddo adds that FCF should logically be
significantly negative because of the decline in earnings, capex which
remains high and a one-off increase in inventories.
The broker said that in 2019 Daimler expects a slight increase in
volumes and sales (+2% to +7.5%), EBIT (+5% to +15%, i.e. +550 million
euros to +1,670 million euros, including the 700 million euros of
one-off/Mobility Services) and FCF (no figure provided).
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.