Continental Posts Rise In Q3 Profit, Raises Free Cash Flow Forecast

Continental AG CTTAY reported a rise in its third-quarter profit and lifted its 2014 forecast for free cash flow. The company now expects 2014 free cash flow, before acquisitions, of more than EUR1.8 billion, versus its earlier outlook of more than EUR1.5 billion Continental's quarterly net profit climbed 14% to EUR495.1 million, versus analysts' estimates of EUR520 million. Its sales surged 3.8% to EUR8.67 billion, versus expectations of EUR8.6 billion. Earnings before interest and taxes declined 28% to EUR637.8 million, compared to estimates of EUR791 million. Continental shares declined 0.15% to close at $39.35 yesterday.