Renault Cuts 2019 Guidance on Unfavorable Economic Environment

   By Kim Richters

Renault SA (RNO.FR) on Thursday cut its revenue and operating margin guidance for the year, citing an unfavorable economic environment.

The car maker said group revenue is expected to decline between 3% and 4%, compared with previous expectations of revenue close to last year's figure.

Renault also cut its outlook for its operating margin to around 5%, compared with a previous forecast of around 6%.

The company's automotive operating free cash flow is forecast to be positive in the second half of the year, while that isn't guaranteed for the full year, the company said.

Additionally, Renault reported preliminary figures for the third quarter, with revenue of 11.3 billion euros ($12.49 billion), down from EUR11.5 billion the same period the year before.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

October 17, 2019 12:48 ET (16:48 GMT)

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