Daimler Truck, now separate from the Mercedes-Benz Cars and Vans operation, said preliminary results for Q3 2022 were “above expectations” and it had updated full year guidance.
“The significant increase in unit sales in combination with good price realisation and a strong aftersales business resulted in the [group’s] adjusted EBIT and adjusted return on sales being significantly above market expectations for the third quarter,” the truck maker said in a statement.
“The Mercedes-Benz segment made a significant contribution to this.”
EBIT adjusted rose 159% year on year to EUR1,273m, beating analyst consensus of EUR1,081m.
Adjusted return on sales was 9.4 % versus 5.4 % and consensus of 8%.
“In view of the sustained positive development, an adjusted return on Sales of 7% – 9% is expected for the Mercedes-Benz segment in 2022 (previously 6 – 8 %). The full year forecasts for the other segments remain unchanged,” Daimler Trucks said.
Group EBIT has been updated to a “slight increase” (previously “at prior-year level”).
Full year Daimler Truck Group revenue was raised to EUR50bn-EUR 52bn from EUR48bn-EUR50bn).