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Dow Jones Newswires: Daimler Truck raises 2022 outlook after strong quarter

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Daimler Truck Holding AG raised its 2022 outlook after strong vehicle sales and higher prices helped results in the third quarter, it said late Wednesday.

The German truck maker
DTG,
+0.17%

expects full-year sales of 50 billion euros to 52 billion euros ($50.4 billion-EUR52.4 billion), compared with a previous forecast for EUR48 billion-EUR50 billion. Earnings before interest and taxes should increase slightly, compared with previous expectations for EBIT at the prior-year level.

Third-quarter adjusted EBIT was EUR1.27 billion, up from EUR491 million, and above analyst expectations for EUR1.08 billion, according to a consensus provided by the company.

Daimler Truck said “the significant increase in unit sales in combination with good price realization and a strong aftersales business” resulted in adjusted EBIT and adjusted return on sales for its industrial business segment being significantly above market expectations. The Mercedes-Benz segment made a significant contribution to developments, it said.

The company expects an adjusted return on sales of 7%-9% for the Mercedes-Benz segment in 2022, up from 6%-8% previously expected. It maintained forecasts for the other segments.

Write to Sarah Sloat at sarah.sloat@wsj.com

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