FX.co ★ Daimler Truck Q3 Adj. EBIT Down; Backs FY Outlook

Daimler Truck Holding AG (DTRUY), a leader in commercial vehicle manufacturing, announced a reduction in its adjusted Group EBIT for the third quarter, which declined to 1.19 billion euros from 1.34 billion euros in the previous year. The earnings per share also fell, ending at 0.77 euros compared to 1.13 euros in the prior year.

The company experienced a dip in quarterly revenues, which decreased to 13.14 billion euros from the previous year's figure of 13.86 billion euros. Furthermore, global unit sales for the third quarter totaled 114,917, a decrease from 128,861 units sold in the same period last year. However, there was positive growth in the sale of battery-electric vehicles, which increased by 36%, climbing to 666 vehicles from 491 in the previous year.

Daimler Truck Group remains optimistic about their performance in 2024, anticipating a robust year ahead. They have maintained their full-year guidance for the next financial year, projecting unit sales to fall between 460,000 and 480,000, with revenue projections ranging from 53 billion euros to 55 billion euros. While the Group expects adjusted EBIT to slightly decline compared to the prior year, EBIT is projected to be significantly lower than last year's results.