Fuchs seen lower after Berenberg downgrade on 'temporary' Q2 beat

Fuchs Se

27/07/2026 07:30

** Shares in German lubricants maker Fuchs FPEn.DE are seen down 2% in pre-market trade after Berenberg downgrades company to "hold", saying it's Q2 earnings beat was "the wrong kind of beat"
** Broker says Fuchs' positive Q2 pre-release initially looked encouraging, with EBIT of €135 million ($153.95 million)beating Vara consensus of €108 million and also raising FY EBIT guidance
** Brokerage believes the beat was largely driven by temporary factors, citing base oil supply issues at competitors, and customers worried about lubricant availability due to the Iran conflict
** "Temporary overearning in the chemicals sector is, in our experience, invariably paid for later in a way that overshoots market expectations" it says
** Berenberg flags risks of continuous cuts to earnings estimates at automotive end-customers, saying it will likely catch up with Fuchs over the next few quarters




($1 = 0.8769 euros)

 (Reporting by Basile Day)
 ((Basile.day@thomsonreuters.com))