BERLIN (Reuters) – Daimler Truck reported earnings before interest and taxes of 1.01 billion euros ($1.04 billion) in the second quarter, far exceeding analysts’ expectations as high demand and positive exchange rate effects lifted revenues.
The truck and bus maker saw an adjusted return on sales of 8%, from 8.1% last year. Revenues reached 12.1 billion euros, beating expectations of six analysts polled by Refinitiv SmartEstimate of 11.8 billion euros.
Daimler Truck maintained its full-year outlook for the Group but lowered expected adjusted returns for its Trucks Asia business, which was heavily impacted by supply chain constraints in the second quarter, to 1-3% from 3-5% previously.
“Supply and not demand is still the limiting factor,” a statement said.
($1 = 0.9720 euros)
(Reporting by Victoria Waldersee, editing by Rachel More)
