Continental AG is once again lowering its sales expectations for 2018.
Continental AG posted net income of 822.1 million euros on net sales of 11.3 billion euros for the second quarter of fiscal 2018 ended June 30. That compares to income of 745.4 million euros on sales of 11 billion euros for the same period last year.
Continental Corp. reported net income of 738 million euros on sales of 11.0 billion euros for its first quarter ended March 31, 2018. That compares to income of 750 million euros on sales of 11.0 billion euros in the year-ago period.
Continental AG is downgrading its outlook for 2018 due to the performance of its tire business so far this year.
Continental AG reported increases in net sales and net income for the first half of 2016, along with 8% volume growth in passenger and light truck tires, as well as commercial truck tires.
Continental Corp.’s tire sales are up for the first half of 2015, and to help strengthen its supply chain the company is planning to nearly triple the capacity of its passenger and light truck tire plant in Hefei, China.
Continental Corp. reported net income of 657 million euros on sales of 9.6 billion euros for its first quarter ended March 31, 2015. That compares to income of 588 million euros on sales of 8.4 billion euros in the year-ago period.
In a preview of its first quarter earnings, Continental Corp. is reporting an increase in sales of 14%, to about 9.6 billion euros, compared to the first quarter of 2014.
Continental Corp. posted net income of nearly 2.4 billion euros on net sales of 37.5 billion euros for its fiscal year ended Dec. 31, 2014. That compares to income of 1.9 billion euros on sales of 33.3 billion euros for fiscal 2013.
Continental Corp.'s sales grew by 3.6% in 2014, and the company is projecting a 5% increase in 2015 alongside an expected moderate growth of passenger car production, says Elmar Degenhart, chairman of the executive board.
Continental AG, the German parent company of Continental Tire the Americas LLC, reported net income of more than 1.8 billion euros on net sales of 32.7 billion euros for its fiscal year ended Dec. 31, 2012. Both are records.
In the second quarter of 2012, Continental Corp. says it nearly matched the level of the strong first quarter and sees itself on track for another record year.
The final results won't be published until Thursday, May 3. But Continental AG previewed its first-quarter financial results for 2012.