Rheinmetall stock volatile after trimming guidance as Germany's F126 warship cancellation hits sales outlook

Rheinmetall stock volatile after trimming guidance as Germany's F126 warship cancellation hits sales outlook

German defense contractor Rheinmetall reduced its full-year sales outlook on Thursday following the cancellation of Germany’s planned acquisition of six large warships, a project in which the company was positioned as lead contractor. The revised guidance set full-year sales between 13.7 billion euros and 14.2 billion euros, representing a reduction of 300 million euros from prior expectations. Despite the guidance cut, the company demonstrated …