Bayerische Motoren Werke Aktiengesellschaft (BMW) Earnings Call Transcripts
Bayerische Motoren Werke Aktiengesellschaft's Latest Earnings Call - Q1 FY2026
In the first quarter of fiscal year 2026, BMW reported revenues of €29.5 billion, which was in line with expectations, and earnings before taxes (EBT) of €1.5 billion, slightly below the consensus estimate. Management maintained its full-year guidance, signaling confidence despite a cautious outlook for the Chinese market. The company highlighted positive momentum from cost-saving measures and the upcoming Neue Klasse vehicle lineup, which is expected to drive future growth.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | €29.5B (inline) |
| EBT | €1.5B (miss) |
| R&D Ratio | 4.8% (positive) |
| CapEx Ratio | 4.5% (positive) |
| Tariff Burden | 1.25% (positive) |
| Dealer Sentiment | Positive (positive) |
Guidance from management
Management maintained its full-year guidance, indicating confidence in achieving targets despite a cautious outlook for the Chinese market. They expect continued improvements from cost-saving initiatives and the Neue Klasse lineup.
What management said
Ladies and gentlemen, welcome back to our quarterly earnings call. Oliver Zipse and Walter Mertl are also back in the room with me. The line will be open shortly for your questions. The operator will give you some technical instructions now.
What analysts pressed on
Analysts expressed concerns about the cautious outlook for China, particularly regarding the impact of reduced BEV subsidies. There were also questions about the sustainability of margins given the competitive landscape and pricing pressures in the premium market.
Main topics on the call
- Revenue Performance — BMW reported revenues of €29.5 billion for Q1 2026, which was 'in line with expectations'. Management noted that they outperformed the market in terms of EBT despite a challenging environment.
- China Market Outlook — Management adopted a 'more cautious wording' regarding the outlook for China, acknowledging that 'too many in the financial community' were already cautious. This reflects concerns about the impact of reduced subsidies f...
- Cost-Saving Initiatives — BMW is continuing its cost-saving measures, with R&D and CapEx ratios heading towards strategic corridors of less than 5%. Walter Mertl stated, 'we are still moving on with our cost measures, as usual, with our programs'...
- Neue Klasse Launch — The upcoming Neue Klasse lineup is expected to enhance BMW's competitive position, particularly in the BEV segment. Oliver Zipse emphasized that 'the product is on the point' and expressed confidence in its reception in ...
Read the full Bayerische Motoren Werke Aktiengesellschaft transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Bayerische Motoren Werke Aktiengesellschaft
Bayerische Motoren Werke Aktiengesellschaft (BMW) is a publicly listed company in the Automobiles industry, within the Consumer Discretionary sector. It trades on XTRA and is based in DE. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 57 calls on record spanning March 3, 2020 to July 30, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 57 Bayerische Motoren Werke Aktiengesellschaft earnings call transcripts on record, spanning March 3, 2020 to July 30, 2026. Based on this history, Bayerische Motoren Werke Aktiengesellschaft reports quarterly. The most recent call on file is dated July 30, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- BMW
- Exchange
- XTRA
- Country
- DE
- Sector
- Consumer Discretionary
- Industry
- Automobiles
- Calls on record
- 57
- First call
- March 3, 2020
- Most recent
- July 30, 2026
- Reporting cadence
- quarterly