Daimler Truck: raises guidance after strong quarter
(CercleFinance.com) - On Tuesday Daimler Truck raised its forecasts for 2022 after publishing solid Q1 results, in particular boosted by the Mercedes-Benz brand.
This morning the German truck maker reported an adjusted EBIT of 651 million euros for the period, compared with 588 million euros a year earlier and above the consensus of 640 million euros.
The company's revenues increased 17% to 10.6 billion euros, with 109,000 vehicles delivered, compared with 101,000 in Q1 2021.
The Mercedes-Benz division's revenues increased 13% to 4.3 billion euros, which enabled it to generate operating profit that is up 71% to 176 million euros.
At 7.9%, the division's operating margin was well above the 6.8% forecast by RBC analysts.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
This morning the German truck maker reported an adjusted EBIT of 651 million euros for the period, compared with 588 million euros a year earlier and above the consensus of 640 million euros.
The company's revenues increased 17% to 10.6 billion euros, with 109,000 vehicles delivered, compared with 101,000 in Q1 2021.
The Mercedes-Benz division's revenues increased 13% to 4.3 billion euros, which enabled it to generate operating profit that is up 71% to 176 million euros.
At 7.9%, the division's operating margin was well above the 6.8% forecast by RBC analysts.
Copyright (c) 2022 CercleFinance.com. All rights reserved.