Valeo 3Q Sales Rose, 2019 Targets Hit by GM Strike
October 24 2019 - 12:46PM
Dow Jones News
By Olivia Bugault
Valeo SA (FR.FR) said Thursday that sales rose in the
third-quarter and trimmed its operating margin and sales guidance
for 2019 due to the one-off cost of a General Motors Co. (GM)
strike in the U.S.
The French auto supplier said sales in the period rose to 4.77
billion euros ($5.31 billion), up from EUR4.43 billion a year
ago.
The company said that the strike at General Motors will impact
its 2019 sales guidance by roughly EUR160 million, while its
operating margin is expected to be hit by EUR50 million. Otherwise,
Valeo confirmed its guidance.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
October 24, 2019 12:31 ET (16:31 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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