BMW warns again on profit as restructuring costs bite
BMW reported an 11% drop in third-quarter pretax earnings and warned restructuring costs would hit results later this year, nearly erasing its core operating margin.
By Rachel MorePremium automaker BMW XETR:BMW reported an 11% drop in third-quarter pretax earnings on Wednesday, hours after warning that restructuring costs would hit results later this year and all but erase its core operating margin.The German company issued its second profit warning in less tha…