Vitesco Technologies Group Third Quarter 2023 Earnings: Misses Expectations

Vitesco Technologies Group (ETR:VTSC) Third Quarter 2023 Results

Key Financial Results

• Revenue: €2.20b (down 4.4% from 3Q 2022).
• Net income: €30.3m (up from €13.8m loss in 3Q 2022).
• Profit margin: 1.4% (up from net loss in 3Q 2022).
• EPS: €0.76 (up from €0.34 loss in 3Q 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Vitesco Technologies Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) also missed analyst estimates by 28%.

Looking ahead, revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Auto Components industry in Germany.

Performance of the German Auto Components industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 1 warning sign for Vitesco Technologies Group that you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.