Correction to Daimler 3Q Preliminary Earnings Article on Friday
October 22 2020 - 10:50AM
Dow Jones News
Daimler AG reported preliminary earnings before interest and
taxes of 3.07 billion euros, against a EUR1.95 billion consensus
forecast provided by the company. EBIT for its Mercedes-Benz Cars
& Vans division came in at EUR2.12 billion, the company said,
against a EUR1.32 billion consensus forecast. Daimler Trucks &
Buses reported an EBIT of EUR541 million, the company said,
compared with consensus expectations of EUR350 million. "Daimler
Says 3Q Beat Views; Expects Strong 4Q," on Friday, incorrectly
reported the consensus figures for group EBIT, Mercedes-Benz Cars
& Vans division EBIT and Daimler Trucks & Buses division
EBIT. The incorrect consensus figures for group EBIT and for
Mercedes-Benz Cars & Vans division EBIT, also appeared in
another story on Friday, "Daimler Shares Gain After 3Q Results That
Support Sector". The correct version follows:
By Cecilia Butini
Daimler AG said late on Thursday that its preliminary figures
for the third quarter came in above market consensus, and that it
expects a strong remainder of 2020.
The German car maker reported preliminary earnings before
interest and taxes of 3.07 billion euros ($3.6 billion), against a
EUR1.95 billion consensus forecast provided by the company.
EBIT for its Mercedes-Benz Cars & Vans division came in at
EUR2.12 billion, the company said, against a EUR1.32 billion
consensus forecast.
Daimler Trucks & Buses reported an EBIT of EUR541 million,
the company said, compared with consensus expectations of EUR350
million.
Daimler Mobility's EBIT clocked in at EUR590 million against an
EUR381 million consensus, Daimler said.
The company said it expects to provide an updated full-year
guidance together with quarterly results on October 23.
The company added that its positive expectations for the fourth
quarter are under the assumption that no further lockdowns are
implemented to curb the spread of the coronavirus.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
October 22, 2020 10:35 ET (14:35 GMT)
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