Daimler Truck Holding AG raised its 2022 outlook after strong vehicle sales and higher prices helped results in the third quarter, it said late Wednesday.
The German truck maker
DTG,
expects full-year sales of 50 billion euros to 52 billion euros ($50.4 billion-EUR52.4 billion), compared with a previous forecast for EUR48 billion-EUR50 billion. Earnings before interest and taxes should increase slightly, compared with previous expectations for EBIT at the prior-year level.
Third-quarter adjusted EBIT was EUR1.27 billion, up from EUR491 million, and above analyst expectations for EUR1.08 billion, according to a consensus provided by the company.
Daimler Truck said “the significant increase in unit sales in combination with good price realization and a strong aftersales business” resulted in adjusted EBIT and adjusted return on sales for its industrial business segment being significantly above market expectations. The Mercedes-Benz segment made a significant contribution to developments, it said.
The company expects an adjusted return on sales of 7%-9% for the Mercedes-Benz segment in 2022, up from 6%-8% previously expected. It maintained forecasts for the other segments.
Write to Sarah Sloat at [email protected]
