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Porsche's nine-month revenue falls 5.9% amid lower deliveries

By Reuters News


Overview

  • German sports car maker's nine-month revenue fell 5.9% yr/yr amid lower deliveries

  • Operating profit and return on sales rose sharply due to lower realignment costs

  • Automotive net cash flow grew, boosted by Bugatti Rimac and Rimac Group stake sales


Outlook

  • Porsche reaffirms full-year 2026 guidance despite challenging market conditions

  • Company expects 2026 group sales revenue of €35-36 bln

  • Company forecasts 2026 group operating return on sales of 5.5-7.5%


Result Drivers

  • PRICING AND PRODUCT MIX - Higher proportion of high-margin models and positive pricing effects supported earnings despite lower volumes

  • BUGATTI RIMAC SALE - Cash inflow from sale of Bugatti Rimac and Rimac Group stakes boosted Automotive net cash flow

  • LOWER REALIGNMENT COSTS - Operating profit and return on sales rose partly due to lower costs for strategic realignment compared to previous year


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M Revenue

EUR 25.28 bln

9M Operating Profit

EUR 1.74 bln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 10 "hold" and 7 "sell" or "strong sell"

  • The average consensus recommendation for the auto & truck manufacturers peer group is "buy."

  • Wall Street's median 12-month price target for Dr Ing hc F Porsche AG is €46.00, about 11.3% above its October 26 closing price of €41.33

  • The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 21 three months ago


Reuters Recommended Reads

  • Oct 26 - Audi splits Chinese JVs between AUDI and four-ring brands

  • Oct 26 - China's domestic car sales seen rising 2% in 2027 after 2026 slump

  • Oct 26 - Volkswagen considers using Chinese software for Europe, report says


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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