By Dominic Chopping
Daimler Truck backed its guidance as first-quarter order growth was fueled by a strong recovery in the U.S., which the company expects will continue to boost its performance in the quarters ahead.
The German truck and bus maker said incoming orders at its North America trucks business grew by 86% on year while order intake at Mercedes-Benz Trucks was up 33%. Overall global order intake rose 50%.
"We are well positioned for continued improvement over the course of the year, even against the backdrop of a challenging first quarter," said Chief Executive Karin Radstrom.
The company reported first-quarter unit sales of 68,849, down from 75,758 units a year earlier, while its main industrial business posted a 14% fall in revenue to 9.14 billion euros ($10.69 billion) and a return on sales of 5.0% from 9.6%.
Adjusted earnings before interest and taxes fell to 498 million euros from 1.08 billion euros.
It still expects to report revenue from the industrial business this year of between 42 billion and 46 billion euros and an adjusted return on sales of 6% to 8%. Adjusted EBIT is expected to come in at between 3.2 billion and 3.7 billion euros.
The potential effects of the Middle East conflict on supply chains and energy prices can't be reliably assessed, so aren't reflected in the outlook, it said.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
05-06-26 0138ET
