Daimler Truck Holding Boosts Revenue Guidance and Announces Share Buyback

by webmaster

Daimler Truck Holding has recently revised its full-year revenue projections for both its group and industrial business. The German truck manufacturer now expects the group’s industrial business revenue to be within the range of EUR54 billion to EUR56 billion, an increase from the previous range of EUR53 billion to EUR55 billion. Furthermore, Daimler Truck Holding has raised its adjusted return on sales guidance for this segment to a range of 8.5% to 10%, up from 7.5% to 9%.

In addition to these updates, Daimler Truck Holding has raised its revenue forecast for 2023 to a range of EUR56 billion to EUR58 billion, compared to the previous range of EUR55 billion to EUR57 billion.

These positive revisions follow strong second-quarter sales for the company, which benefited from improved supply chains and stronger core markets. As a result, Daimler Truck Holding has also increased its 2023 unit sales guidance to a range of 530,000 to 550,000 units, up from the previous range of 510,000 to 530,000 units.

Moreover, the company anticipates a substantial increase in industrial business free cash flow. Consequently, Daimler Truck Holding plans to initiate a share buyback program in August, with a budget of up to 2 billion euros ($2.20 billion). The buyback is expected to last for a period of up to two years, with the intention of canceling the purchased shares.

These developments highlight Daimler Truck Holding’s positive outlook and commitment to enhancing shareholder value.

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