Daimler Truck looks like it will follow competitors Volvo Group and Paccar Inc. in handily beating estimates for its first-quarter financial performance.
The German truck maker released preliminary results Monday that exceeded the consensus of analysts who cover the market-leading manufacturer. Specifically:
Daimler Truck Group had adjusted earnings before interest and taxes of 1.16 billion euros or $1.28 billion compared to consensus of 976 million euros or $1.07 billion.
Industrial Business had adjusted EBIT of 1.1 billion euros versus the consensus estimate of 923 million euros.
Industrial Business had return on sales of 8.8% compared to consensus of 7.6%.
Industrial Business’ free cash flow was 168 million euros compared to consensus of 81 million euros.
In North America, where Daimler leads the market with its Freightliner and Western Star heavy-duty trucks, adjusted EBIT was $745.1 million compared to consensus of $708.7 million. Return on sales was 11.6% versus consensus of 11.5%.
Daimler releases full quarterly results on May 9.
Related articles:
Stand-alone Daimler Truck posts solid first year
Daimler Truck GenH2 is more than just a fuel cell
Daimler Truck CEO Martin Daum tells it like he sees it
Click for more FreightWaves articles by Alan Adler.
The post Daimler Truck reports strong Q1 earnings estimate appeared first on FreightWaves.
