Daimler Truck: raises FY 2022 guidance

(CercleFinance.com) - Daimler Truck last night raised its earnings guidance for FY 2022, after reporting a "solid" performance for Q3.


According to preliminary figures, the group generated adjusted EBIT of 1.27 billion euros (July-September), well above the 491 million euros a year ago.

According to a consensus it provided, analysts were expecting profit of around 1.08 billion euros for the period.

In a reaction note, the Royal Bank of Canada teams underline the "impressive" performance recorded by the Mercedes-Benz branded trucks.

The division posted adjusted EBIT of 474 million euros in Q3, more than quadruple the 114 million euros reported in the same period last year.

As a result of these figures, Daimler Truck now says it is aiming for a "slight improvement" in EBIT this year, rather than flat performance year-on-year.

The group also said that it is targeting revenues of 50 to 52 billion euros for 2022, up from a previous forecast range of 48 to 50 billion euros.

Following this publication, Daimler Truck shares increased about 2% on Thursday morning on the DAX index, however, note that since it was floated just under a year ago, the share has lost 9% of its value.


Copyright (c) 2022 CercleFinance.com. All rights reserved.