VWDRY - Siemens Gamesa profit warning also drags down Siemens Energy

Siemens Energy ([[SMEGF]] -12.8%) and Spanish subsidiary Siemens Gamesa Renewable Energy ([[GCTAY]] -15.0%) both plunge after the latter issued a profit warning for the full year, causing Siemens Energy to also cut its guidance.Wind turbine rival Vestas ([[VWDRY]] -5.5%) also trades sharply lower.Siemens Energy says it no longer expects to meet the low end of guidance for FY 2021 adjusted EBITDA margin of 3%-5%, after Siemens Gamesa warns of a likely negative EBIT margin vs. a previous outlook of 3%-5% growth.Siemens Gamesa also expects revenues at the low end of a previously guided range of €10.2B-€10.5B ($12.07B-$12.43B), after racking up a €150M adjusted operating loss in the June quarter.Siemens Gamesa's weak quarter and guidance cut implies further problems in the current quarter and likely will drive investor concern about the impact of raw material inflation, Citi analysts say.Siemens Energy, which owns 67% of Siemens Gamesa, recently said it would not

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Siemens Gamesa profit warning also drags down Siemens Energy