(RTTNews) – Schaeffler AG (SCAFF, SFFLY), a German manufacturer of rolling element bearings, reported Tuesday higher third-quarter adjusted EBIT and margin on a pro forma basis, despite lower revenues.
Looking ahead for fiscal 2025, Schaeffler still anticipates revenue to be in the range of 23 billion euros to 25 billion euros, and adjusted EBIT margin of 3 to 5 percent.
For the Bearings & Industrial Solutions division, the company now expects an EBIT margin before special items of 6 to 8 percent and continues to anticipate revenue of 6 to 6.75 billion euros.
The company previously expected adjusted EBIT margin for the segment of 5 percent to 7 percent.
In the third quarter, Schaeffler’s EBIT before special items climbed to 264 million euros from last year’s 206 million euros. Adjusted EBIT increased 28.1 percent on a pro forma basis.
The pro-forma comparative amounts are based on the assumption that Vitesco was acquired as at January 1, 2024.
Adjusted EBIT margin was 4.5 percent, higher than prior year’s pro forma margin of 3.5 percent.
Revenue for the quarter, meanwhile, dropped to 5.83 billion euros from prior year’s 5.95 billion euros. Pro forma revenues dropped 2 percent, while revenues on a pro-forma basis and at constant currency grew 1.3 percent.
In the nine-month period, Schaeffler generated 746 million euros in adjusted EBIT, 1.2 percent higher on a pro forma basis. The adjusted EBIT margin was 4.2 percent compared to prior year’s pro-forma margin of 4.0 percent.
Revenue for the reporting period amounted to 17.67 billion euros, down on a pro-forma basis from last year’s 18.37 billion euros.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
#Schaeffler #EBIT #Climbs #Revenues #Pro #Forma #Basis #Backs #FY25 #Outlook