German carmakers Volkswagen and BMW are set to announce their first-quarter earnings later today. The results come at a time of an improving growth environment for both companies. BMW last month, in its annual report, said the automaker remains on track for slightly higher sales this year despite a dip in demand in the first quarter, including in the Chinese market.
VOW3 beat its benchmark 41% of the time when it reported better-than-expected EPS for the quarter. The stock also surpassed the benchmark by 5.4 percentage points a week since the results and 6.5 percentage points a month out under the same scenario. VOW3 was up 6.12% to 123.32 euros at midday London time on Wednesday. Analysts expect Volkswagen to report 6.93 euros EPS, according to figures compiled by FactSet. The consensus price target of all analysts point toward a 24.