Daimler AG (DAIGn) on Thursday reported preliminary adjusted earnings before interest and tax (EBIT) of EUR 5.42 billion ($6.42 billion) during the second quarter, a result that outstripped the median analyst estimate of EUR 4.3 billion.
Daimler’s Mercedes-Benz Car and Van division reported an adjusted EBIT of EUR 3.60 billion during the second quarter, which exceeded market expectations of EUR 3.1 billion. Results in the unit were supported by pricing and cost discipline, the company said.
In Daimler’s truck and bus division, adjusted EBIT came in at EUR 831 million during the second quarter, compared with a consensus of analyst estimates of EUR 680 million.
“Daimler Trucks & Buses sales increased in almost all regions due to improved market conditions, which translated into higher profitability in the second quarter. In addition, the Daimler Trucks & Buses EBIT benefited from strong pricing, higher after sales business and positive, non-recurring valuation effects of around 100 million euros,” the auto maker said in a statement.
As of 7:02 GMT on Friday the shares of Daimler AG were edging up 0.58% (EUR 0.425) on the day to trade at EUR 73.540 in Frankfurt.