Daimler Truck Revenue Beats Expectations
By David Sachs
Daimler Truck's second-quarter revenue beat expectations after the company slashed its earnings forecast for the year, citing a hit from its Chinese joint venture amid persistent weakness in the country.
The German truck-and bus maker on Thursday said revenue fell 4% to 13.325 billion euros ($14.42 billion) from the second quarter of last year. Analysts had expected revenue at EUR13.12 billion, according to the Visible Alpha consensus.
Incoming orders fell 5% on year to 92,569, while earnings per share fell 17% to EUR0.93, the company said.
Late Wednesday, Daimler Truck cut its outlook for unit sales, revenue, and earnings before interest and taxes on both a raw and adjusted basis.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
August 01, 2024 01:30 ET (05:30 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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