Volkswagen AG (VOW3d)

Volkswagen Group’s second fiscal quarter of 2026 featured a revenue beat but a sharp EPS miss versus consensus, as results reported July 24, 2026 showed earnings pressure despite modest top-line growth. Revenue rose 2% to about EUR 82.4 billion (up from roughly EUR 80.8 billion a year ago) and topped expectations, with revenue of EUR 82.444 billion versus the EUR 81.157 billion estimate (+1.6%). EPS of EUR 2.56 trailed the EUR 4.74 estimate (-46.0%) and was down 41% from EUR 4.34 a year ago, while net income fell 43% to roughly EUR 1.3 billion (down from about EUR 2.3 billion). Profitability was reflected in a gross margin of about 15% and an operating margin near 4%, with operating income of roughly EUR 3.5 billion and gross profit of about EUR 12.5 billion. The quarter generated operating cash flow of roughly EUR 657.0 million. For the next period, consensus calls for EPS of EUR 4.05 on revenue of EUR 79.514 billion.