Daimler Says 1Q Earnings Will Beat Market Expectations
April 16 2021 - 1:38AM
Dow Jones News
By Olivia Bugault
Daimler AG said Friday that its first-quarter earnings will be
above market expectations helped by a solid performance of
Mercedes-Benz cars, citing preliminary results.
Earnings before interest and taxes should come at 5.75 billion
euros ($6.88 billion) for the first three months of the year,
compared with a market consensus of EUR4.97 billion, the German
premium car maker said. Its adjusted EBIT should stand at EUR4.97
billion, compared with market expectations of EUR3.99 billion, it
said.
"Favourable sales momentum at Mercedes-Benz Cars driven by all
major regions, especially China, strongly supported the product mix
and pricing in the first quarter 2021," the company said.
Industrial free cash flow is expected at EUR1.81 billion for the
quarter, compared with market expectations of EUR1.1 billion, it
said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
April 16, 2021 01:23 ET (05:23 GMT)
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