Daimler truck segment posts higher profit, more sales
The makers of Freightliner and Western Star trucks – Daimler AG – reported “significantly improved” third quarter earnings Thursday.
The company posted a 53.2 percent increase in profit and a 4 percent increase in sales in its truck unit compared to last year. Daimler Trucks says it moved 124,500 units in the third quarter.
“This shows that the high investments we have made were money well spent,” Dieter Zetsche, chairman of Daimler’s board of management, said through a statement.
Driven by exchange rates, Daimler says revenue in the truck segment was $11.04 billion, down 1 percent from the year before. Normalizing and adjusting rates, Daimler says truck revenues increased 8 percent.
Daimler Trucks logged a $720.6 million profit, up 4.2 percent.
“The development of earnings reflects a slight revival of unit sales,” Daimler said through its earnings release. “Due to political uncertainty in the United States, no significant upward trend is likely for North America in the remaining months of the year. Daimler therefore continues to anticipate market contraction of up to 5 percent for the full year compared with 2012.”