Wind turbine maker Vestas Q2 beats forecast, adjusts 2018 outlook slightly lower

Earnings before interest and tax (EBIT) of 259 million euros ($293.52 million) came in above the 204 million expected by analysts in a Reuters pollREUTERS  |  August 16, 2018, 07:34 IST
Wind turbine maker Vestas Q2 beats forecast, adjusts 2018 outlook slightly lower COPENHAGEN: Wind turbine maker Vestas reported better-than-expected second-quarter operating profit on Wednesday, but said tariffs stemming from a U.S-China trade war created some uncertainty and would rive up U.S. costs.

Earnings before interest and tax (EBIT) of 259 million euros ($293.52 million) came in above the 204 million expected by analysts in a Reuters poll.

Vestas now expects revenue of 10-10.5 billion euros this year from a previous forecast of 10-11 billion and an EBIT margin before special items of 9.5-10.5 percent versus previously 9-11 percent. ($1 = 0.8824 euros)