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Peak Profit Spells Danger for Europe s Earnings Season

Publishing date: Jul 18, 2021  •  10 hours ago  •  3 minute read  •  Article content (Bloomberg) Pain is likely to come down fast and hard for any European company that doesn’t deliver this earnings season. At least, that’s the early read from a handful of names among the ones that have reported so far. We apologize, but this video has failed to load. Try refreshing your browser, or Peak Profit Spells Danger for Europe s Earnings Season Back to video Online-only fashion retailer Asos Plc saw almost a fifth of its market value wiped out in a single day on weaker sales on Thursday. Just Eat Takeaway.com and Siemens Gamesa Renewable Energy SA also tumbled after disappointing investors last week. A sales beat by U.K. trench-coat maker Burberry Group Plc on Friday wasn’t enough to impress investors and the shares fell as much as 5.2%.

Industrials Edge Up After Mixed Factory Data — Industrials Roundup

Provided by Dow Jones Shares of industrial and transportation companies ticked up after mixed factory data. The Federal Reserve reported that industrial production rose 0.4% last month from May, though economists noted the gain largely due to a 2.7% increase in utility output, as the country cranked up the air conditioners in a month of record-breaking heat. Factories were running at 75.5% of capacity last month, belying accounts that producers were working flat out to meet the rebound in demand. Separately, manufacturing activity in the Philadelphia area lost some steam in July compared with the previous month, according to the Fed Bank of Philadelphia.

Siemens Gamesa Renewable Energy Expects FY Revenue To Be At Low End Of Prior Outlook

Siemens Gamesa Renewable Energy Expects FY Revenue To Be At Low End Of Prior Outlook BERLIN (dpa-AFX) - Siemens Gamesa Renewable Energy S.A., a separately listed and fully consolidated subsidiary of Siemens Energy AG (SMEGF.PK SMNEY.PK), expects group revenue for financial year 2021 to be at the low end of the prior estimation of 10.2 billion euros - 10.5 billion euros. Siemens Gamesa Renewable Energy group EBIT margin pre Purchase Price Allocation (PPA) and before Integration & Restructuring (I&R) costs for financial year 2021 is adjusted to a range of 0% to -1%. Siemens Gamesa Renewable Energy reported preliminary third-quarter EBIT pre PPA and I&R costs of about negative 150 million euros and revenue of 2.7 billion euros.

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