BMW Group (BMW) Q3 2026 (Media Q&A) earnings summary

Executive summary

• Q3 EBT was €2.083bn, down 10.6% YoY; accelerated portfolio and structural measures are expected to weigh on Q4 Automotive earnings.

• Strong Neue Klasse demand is accelerating Gen6 ramp-up and production capacity, while restructuring and portfolio actions are being brought forward to capture momentum.

Financial highlights

• Q3 revenue was €30.452bn, down 5.8% YoY (7.7% excluding currency translation); YTD revenue fell 7.3% (6.6% excluding currency).

• Q3 net profit was €1.448bn, down 14.7%, with EPS of €2.46, down 10.2%; YTD net profit was €4.320bn, down 24.4%, with EPS of €7.19, down 19.8%.

• YTD EBT was €6.128bn, down 23.9%.

Outlook and guidance

• 2026 reported Automotive EBIT margin guidance was cut from 1%–3% to -0.5% to +0.5%; operating margin before restructuring measures remains expected above 2%.

• 2026 Automotive RoCE is forecast at -1% to +1% and free cash flow above €2.5bn; deliveries are expected moderately below 2025.

• Automotive EBIT margin target is 3%–5% in 2028; faster implementation is expected to bring returns sooner, with the pace dependent on which measures can be advanced.

• Margin guidance includes ~1.25 percentage points of tariff impact, 1.2 points from BBA purchase-price-allocation depreciation and amortisation, and ~2.5 points from portfolio and structural measures.