Daimler Preview Says First Quarter Operating Profit to Rise 86.6%
Global truck- and carmaker Daimler AG said its first-quarter earnings will be significantly better than during the same three-month period in 2016.
The Stuttgart, Germany-based manufacturer said all five of its major divisions earned more operating income for the quarter, year-over-year, and also improved their profit margins. The April 11 statement from Daimler was an unaudited earnings preview ahead of the formal first-quarter presentation April 26.
For the corporation as a whole, operating income is expected to be 4.01 billion euros, an 86.6% surge over the 2.15 billion euros in the 2016 first quarter.
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Among the five divisions, Daimler Trucks is expected to increase quarterly operating profit by 29.5%, year-over-year, to 668 million euros. Operating margin is estimated to increase to 8.4% from 6.3%. Truck making is Daimler’s second-largest unit.
Mercedes-Benz cars, the largest division, is headed for a 60.1% increase in operating income to 2.33 billion euros, the company said. Operating margin appears to be improving to 9.8% from 7% a year ago.
The company’s other divisions are Mercedes-Benz Vans, Daimler Buses and financial services.
