MW Vestas Wind Systems stock slumps as company says margins to be at low end of guidance
Vestas Wind Systems stock (DK:VWS) fell 9% in early trade as the turbine maker said its annual EBIT margin before special items will more likely be at the lower end of a 4% to 5% range, that net investments will be approximately EUR1 billion instead of EUR1.2 billion and that service EBIT will be EUR450 million instead of around EUR500 million. Vestas said its EBIT margin was 4.5% in the third quarter after EUR5.18 billion euros in revenue.
-Steve Goldstein
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
November 05, 2024 03:40 ET (08:40 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.