Schaeffler reported a 15.8% drop in adjusted earnings before interest and taxes to 205 million euros for the second quarter, falling short of analysts' expectations of 227 million euros.
The company cited weaker demand in Europe and China, adverse currency effects, and U.S. tariffs as primary reasons for the decline. Sales in Europe decreased by 5%, and in Greater China by 6.7%.
Despite these challenges, CEO Klaus Rosenfeld expressed optimism about achieving full-year guidance, noting that the impact of U.S. tariffs is manageable and that the company is exploring expansion into the defense sector. The article also mentions that German auto and car parts makers are increasingly looking at the defense industry due to rising European military spending.
Schaeffler Shares Plunge After Guidance Falls Short of Expectations(current)
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