Daimler: shares slide after new profit warning
(CercleFinance.com) - Shares in Germany's Daimler fell on Monday after the auto giant issued its third profit warning in a year.
The company's Frankfurt-listed shares were down 3.5% at 47.9 euros in early morning trading. Daimler's stock has lost 5.2% of its value over the past three months, underperforming a 8.5% rise in Germany's DAX index.
In a statement on Sunday, the carmaker said it now expects 2019 earnings before interest and tax (EBIT) "to be in the magnitude of the previous year."
The group previously expected "slight growth" in earnings this year.
Daimler said it had to increase provisions for ongoing governmental proceedings and measures relating to diesel vehicles.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The company's Frankfurt-listed shares were down 3.5% at 47.9 euros in early morning trading. Daimler's stock has lost 5.2% of its value over the past three months, underperforming a 8.5% rise in Germany's DAX index.
In a statement on Sunday, the carmaker said it now expects 2019 earnings before interest and tax (EBIT) "to be in the magnitude of the previous year."
The group previously expected "slight growth" in earnings this year.
Daimler said it had to increase provisions for ongoing governmental proceedings and measures relating to diesel vehicles.
Copyright (c) 2019 CercleFinance.com. All rights reserved.