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Daimler Truck's Net Profit Rose Despite Unit Sales Decline

Provided by Dow Jones

May 3, 2024 5:32am

By David Sachs

Daimler Truck posted a higher net profit and stable revenue despite lower unit sales in the first quarter.

The German truck and bus maker said Friday that net profit rose 7% on year to 847 million euros ($908.5 million) in the first quarter.

Sales fell 13% to 108,911 units, but revenue was stable at EUR13.26 billion, Daimler Truck said. Analysts had expected revenue of EUR12.88 billion.

Daimler Trucked backed its full-year guidance, but Chief Executive Martin Daum warned of hurdles ahead.

"While we are on track towards our financial targets for the full year, headwinds in Europe are increasing," Daum said.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

May 03, 2024 01:32 ET (05:32 GMT)

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