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Daimler Truck raises FY outlook on stronger than expected Q3

Published 10/26/2022, 02:33 PM
Updated 10/26/2022, 02:36 PM
© Reuters. FILE PHOTO: Members of the media stand beside an electric driven Actros truck at the booth of German truckmaker Daimler Truck at the IAA Transportation fair, which will open its doors to the public on September 20, 2022, in Hanover, Germany, September 19,
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BERLIN (Reuters) - Daimler (OTC:DDAIF) Truck on Wednesday slightly raised its full-year earnings forecast after reporting better-than-expected results in the third quarter thanks to a jump in unit sales, higher prices and strong aftersales business.

Daimler Truck now expects full-year group revenue between 50 billion - 52 billion euros ($50.40 billion - $52.42 billion), up from a previous forecast of 48 billion - 50 billion.

© Reuters. FILE PHOTO: Members of the media stand beside an electric driven Actros truck at the booth of German truckmaker Daimler Truck at the IAA Transportation fair, which will open its doors to the public on September 20, 2022, in Hanover, Germany, September 19, 2022. REUTERS/Fabian Bimmer

The company, which will present its third-quarter report on Nov. 11, said adjusted earnings before interest and taxes (EBIT) rose 159% in the third quarter to 1.27 billion euros, above analysts' forecast of 1.08 billion euros.

($1 = 0.9921 euros)

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