Daimler Truck shares rose as the company raised its profit and revenue guidance due to an easing of supply chain constraints and stronger demand in its core markets.
BERLIN (Reuters) -Daimler Truck has raised its profit and revenue guidance due to an easing of supply chain constraints, stronger demand in its core markets and the after-sales business, the company said on Monday.
The company has updated its guidance for adjusted returns on sales in its industrial business to a range of 8.5% to 10% from 7.5% to 9% previously for the financial year 2023, it said on Monday.
The truck and busmaker now expects revenue to reach 56-58 billion euros ($63.79 billion), from 55-57 billion previously, with unit sales forecast around 20,000 higher to a range of 530,000 to 550,000.
Its adjusted return-on-sales forecast rose to 11-13% for its North America division, 8-10% for its Europe division, and 4-6% for its Asia division.
Its forecast for Daimler (OTC:MBGAF) Buses was raised to 3-5% from 2-4% previously.
The company also announced a share buyback program starting August 2023 of up to 2 billion euros, to be acquired over up to two years.
Daimler Truck forecasts a slight increase in its group investments and research and development costs. It also foresees a significant increase in its free cash flow of the industrial business segment.
Daimler Truck FRANKFURT: DTG samochody ciężarowe Mercedes
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Re: Daimler Truck FRANKFURT: DTG samochody ciężarowe Mercedes
Daimler Truck hits record returns margin amid rising costs
BERLIN (Reuters) -Daimler Truck achieved a second-quarter record adjusted return on sales of 10.3% for its industrial business, the company said on Tuesday, even as it faced rising monthly costs from inflation.
Supply chain issues were easing, the truck and busmaker said, with some bottlenecks remaining this year though no major production downtime was expected.
The company's order intake was down partly because it had not yet opened up order books for next year, including in major markets like the United States and Japan, company executives said on an analyst call following half-year results.
Chief Executive Martin Daum was hesitant to give a specific forecast for 2024, but said "it won't be a bad year next year", adding the truck industry was "far from crisis".
Daimler (OTC:MBGAF) Truck raised its guidance for annual adjusted sales returns across the group last month to a range of 8.5% to 10% from 7.5% to 9% previously, citing easing of supply chain constraints, stronger demand in core markets and the after-sales business.
The company struggled in the first quarter with supply chain issues for semiconductors, but has maintained that a general improvement in supply chains would lift its profits.
Unit sales rose by 9% in the second quarter with revenue up 15%, indicating the company had upheld its strategy of combating rising costs by hiking prices - but incoming orders were down by 12% in the first half of the year.
Earnings per share in the quarter fell slightly to 1.11 euros compared to 1.12 euros a year earlier.
BERLIN (Reuters) -Daimler Truck achieved a second-quarter record adjusted return on sales of 10.3% for its industrial business, the company said on Tuesday, even as it faced rising monthly costs from inflation.
Supply chain issues were easing, the truck and busmaker said, with some bottlenecks remaining this year though no major production downtime was expected.
The company's order intake was down partly because it had not yet opened up order books for next year, including in major markets like the United States and Japan, company executives said on an analyst call following half-year results.
Chief Executive Martin Daum was hesitant to give a specific forecast for 2024, but said "it won't be a bad year next year", adding the truck industry was "far from crisis".
Daimler (OTC:MBGAF) Truck raised its guidance for annual adjusted sales returns across the group last month to a range of 8.5% to 10% from 7.5% to 9% previously, citing easing of supply chain constraints, stronger demand in core markets and the after-sales business.
The company struggled in the first quarter with supply chain issues for semiconductors, but has maintained that a general improvement in supply chains would lift its profits.
Unit sales rose by 9% in the second quarter with revenue up 15%, indicating the company had upheld its strategy of combating rising costs by hiking prices - but incoming orders were down by 12% in the first half of the year.
Earnings per share in the quarter fell slightly to 1.11 euros compared to 1.12 euros a year earlier.
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Re: Daimler Truck FRANKFURT: DTG samochody ciężarowe Mercedes
BERLIN (Reuters) - Mercedes-Benz (OTC:MBGAF) Trucks, the European division of commercial vehicle maker Daimler Truck, premiered its battery-electric long-haul truck eActros 600 on Tuesday, with series production planned for the end of 2024.
It will be produced on Mercedes-Benz Trucks' existing assembly line in Woerth am Rhein, Germany, in parallel to diesel vehicles.
The company is currently building a fleet of around 50 prototype vehicles to be tested with customers, it said.
Daimler Truck is targeting 60% zero-emission sales by 2030, but less than 0.3% of sales in January to June this year fit that category, as a lack of charging infrastructure and the high price tag of electric models stymie sales.
The eActros 600 purchase price is 2.5 times its diesel equivalent.
Still, savings on electricity over fuel and benefits from government support mean its investment pays off after five years of driving, Daimler Trucks said, adding it could provide some financial support for smaller clients to aid the switch to electric.
The lithium iron phosphate battery's capacity of over 600 kilowatt hours means drivers, for the most part, will not need to charge all day, as around 60% of long-distance journeys of Mercedes-Benz truck drivers in Europe are under 500 kilometres, the company said in a statement.
Batteries charged at 20% of capacity take 30 minutes to reach 80% charge, it added.
It will be produced on Mercedes-Benz Trucks' existing assembly line in Woerth am Rhein, Germany, in parallel to diesel vehicles.
The company is currently building a fleet of around 50 prototype vehicles to be tested with customers, it said.
Daimler Truck is targeting 60% zero-emission sales by 2030, but less than 0.3% of sales in January to June this year fit that category, as a lack of charging infrastructure and the high price tag of electric models stymie sales.
The eActros 600 purchase price is 2.5 times its diesel equivalent.
Still, savings on electricity over fuel and benefits from government support mean its investment pays off after five years of driving, Daimler Trucks said, adding it could provide some financial support for smaller clients to aid the switch to electric.
The lithium iron phosphate battery's capacity of over 600 kilowatt hours means drivers, for the most part, will not need to charge all day, as around 60% of long-distance journeys of Mercedes-Benz truck drivers in Europe are under 500 kilometres, the company said in a statement.
Batteries charged at 20% of capacity take 30 minutes to reach 80% charge, it added.
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