Wind turbine maker Vestas lags forecast as competition and tariffs bite
Share:
COPENHAGEN (Reuters) - Wind turbine maker Vestas posted lower than expected second-quarter operating profit on Thursday, hit by competitive markets, tariffs and orders received during a steep price decline in 2017.Operating profit before special items fell by roughly 50% to 128 million euros ($142.7 million) in the quarter, lagging a 143 million euro forecast in a Reuters poll of analysts. Its EBIT margin fell to 6% from 11.5% a year ago.Vestas now expects revenue between 11 billion and 12.25..