0819 GMT - Continental's third-quarter results beat analyst expectations for adjusted earnings before interest and taxes by 10% but this included a 125 million-euro payment from Vitesco, Bernstein analysts write. It is unlikely that many analysts had accounted for this payment in their models and the actual underlying EBIT beat was 3.6%, the analysts add. The company's strength was in its tires division, where margins were up 100 basis points year-on-year to 14.5%, they say. The group's revenue miss was driven by its ContiTech division, where revenue missed consensus by 6.6%, they add. Shares rise 7.6% at 60.80 euros.(adam.whittaker@wsj.com)
(END) Dow Jones Newswires
November 11, 2024 03:20 ET (08:20 GMT)
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