Daimler Truck Holding Cuts Full-Year Sales Guidance
By Victor Swezey
Daimler Truck Holding on Tuesday predicted lower revenue and lower unit sales for the year.
The German truck manufacturer had warned on July 17 that its full-year guidance was under review.
Daimler cut its revenue guidance to between 53 billion euros ($57.3 billion) and 55 billion euros, from a previous range of 55 billion euros to 57 billion euros. Unit sales were cut to between 460,000 and 480,000 from a previous range of 490,000 to 510,000.
Daimler forecast earnings before interest and tax to be on the prior-year level, rather than a slight increase.
The company predicted its North American trucks segment would deliver return on sales at the top end of its previous guidance, while lowering return on sales outlooks for the Mercedes-Benz segment and the Asian trucks segment.
Write to Victor Swezey at victor.swezey@wsj.com; @vicswezey
(END) Dow Jones Newswires
July 31, 2024 15:18 ET (19:18 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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