Jul. 29 at 11:21 AM
$RNMBY Rheinmetall’s preliminary operating profit for the 2nd quarter significantly outperformed expectations, reaching €562 million compared to the estimated €409.7 million.
The company reported preliminary sales of €3.29 billion, surpassing the estimate of €3.11 billion.
The backlog increased to over €80 billion, achieving nominations worth €11.371 billion during the 2nd quarter.
Despite positive financial results, a significantly negative operating free cash flow is expected due to the shift in advance payments.
All of Rheinmetall’s segments contributed to the year-on-year improvement in both revenue and earnings.
The company’s shares increased by 4%, reaching €1,131, with 85,900 shares traded.
Analyst recommendations included 23 buy ratings, 4 hold ratings, and 0 sell ratings.