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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
BMW Group
BMW Group (BMW) investor relations material
BMW Group Q3 2026 (Q&A) earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 (Q&A) earnings summary4 Nov, 2026
Executive summary
Q3 revenue was €30,452m (-5.8%) and EBT €2,083m (-10.6%), with a 6.8% EBT margin; 9M revenue was €92.7bn and EBT €6,128m, with a 6.6% margin.
Accelerated portfolio and structural measures weigh on Q4 Automotive earnings; FY reported Automotive EBIT margin guidance was cut to -0.5% to +0.5%, while operational margin before measures remains expected above 2%.
Financial highlights
Q3 EBIT was €1,589m (-29.7%), net profit €1,448m (-14.7%) and EPS €2.46 (-10.2%); 9M EBIT was €5,224m (-35.2%), net profit €4,320m (-24.4%) and EPS €7.19 (-19.8%).
Automotive Q3 revenue was €26,669m (-6.5%); retail units fell 6.3% to 551,075.
Q3 BEV retail units rose 7.2% to 110k and BEV share increased to 20.0% from 17.5%.
FY2026 EBT is expected to decrease significantly; workforce size is expected to decrease slightly.
Outlook and guidance
FY2026 Automotive free cash flow remains forecast above €2.5bn; deliveries are expected moderately below the prior year, while Motorcycles deliveries are expected slightly below 2025.
Automotive EBIT margin targets are 3%–5% in 2028 and 8%–10% by the beginning of the 2030s.
Financial Services FY2026 ROE guidance is 13%–16%; Motorcycles EBIT margin guidance is 4%–6% and RoCE 10%–14%.
FY reported Automotive EBIT margin guidance includes ~1.25 percentage points of tariff headwinds, 1.2 points from BBA PPA amortization and ~2.5 points from portfolio and structural measures.
Detailed 2027 P&L and free-cash-flow impacts from restructuring packages are due with 2027 guidance in March; the 2028 target has no earlier achievement commitment.
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Latest events from BMW Group
- Accelerated realignment cuts 2026 reported Automotive margin guidance despite Neue Klasse momentum.BMW
Q3 2026 (Media Q&A) - China weakness and restructuring weigh on FY2026 margin guidance as Neue Klasse ramps up.BMWQ3 2026
- Q3 BEV growth rebounded as China weakness kept total retail volumes under pressure.BMWPre-close call presentation
- Targeting 8-10% EBIT margin with NEUE KLASSE, AI, and regional strategies driving transformation.BMWCMD 2026 presentation
- Profit and margins fell sharply amid China headwinds, but BEV and MINI sales grew in Europe.BMWQ2 2026 (Media Q&A)
- H1 2026 profit and revenue fell sharply as China weakness outweighed US and EU gains.BMWQ2 2026
- Profit fell sharply in H1 2026 as China weakened, but restructuring and BEV growth continue.BMWQ2 2026 (Q&A)
- Automotive margin guidance held at 4%-6%; free cash flow rose 88.1% and European BEV orders surged.BMWQ1 2026 (Q&A)
- EBT margin reached 9.2% as BEV sales rose 32.4%, with stable 2025 guidance and cost discipline.BMWQ1 2025
Next BMW Group earnings date
Q4 202611 Mar, 2027
BMW Group
Next BMW Group earnings date
Q4 202611 Mar, 2027
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Frequently asked questions
The Bavarian Motor Works
The Bayerische Motoren Werke, better known as BMW, is one of the most renowned automobile and motorcycle manufacturers globally. Founded in 1916, BMW is headquartered in Munich, Germany. The company has garnered a reputation for producing well-built premium cars and motorcycles, and its badge is one of the most respected in the automotive industry. Besides producing their BMW cars, the company also owns MINI and Rolls Royce.
Over 100 Years of Manufacturing
BMW's journey began during the First World War, during which the company produced aircraft engines. It wasn't until 1923 that BMW shifted gears, quite literally, to start producing motorcycles. The company subsequently began manufacturing automobiles in 1928 and one of the of BMW's automotive history was the introduction of the BMW 328 sports car in the late 1930s. It showcased BMW's commitment to design and performance, a commitment that is still evident in their vehicles today. The company's iconic blue and white logo, a symbol of a spinning propeller, pays homage to its aeronautical origins.
Today, the brand is one of the most recognizable automakers in the world. They compete with several other large brands such as Mercedes, Volkswagen, Stellantis, and several others.
An Array of High-performance Vehicles
BMW's vehicles are organized into series, each representing a different class of vehicle size, performance, and price point. This includes sedans, sport utility vehicles (SUVs), and sports cars. One of their more recognizable line of cars is their BMW 3 Series, known for its build quality and performance. Like many other car manufacturers, the company has recognized the demand from consumers for SUVs and crossovers BMW X Series, a line of SUVs and crossovers; and the coveted BMW M Series, a line of high-performance vehicles. The M Series is a testament to BMW's commitment and skill when it comes to performance. These models are equipped with more powerful engines, superior handling, and distinctive design elements that set them apart from their non-M counterparts.
Moving With the Times
BMW is not just a car manufacturer but also a technology company. BMW continues to stay ahead of the curve by integrating advanced technologies into its vehicles. BMW's cars are now equipped with features such as gesture control, touchscreen navigation, advanced safety systems, and comprehensive digital services. BMW, like all car manufacturers, also needs to prepare for a future that’s powered by electricity. The company has started to move with the times in regard to this and is now producing several models of electric vehicles within its iSeries range of models.