Mercedes-Benz Lifts Full-Year Guidance
July 26 2023 - 3:43PM
Dow Jones News
By Dean Seal
Mercedes-Benz Group has raised its annual guidance in light of
what it is calling "solid financial results" for the second
quarter, which will be released Thursday.
The German luxury car maker said it now expects industrial free
cash flow to be slightly higher than the prior-year level, rather
than flat as it had previously projected.
Earnings before interest and taxes are now forecast to be level
with last year, compared with previous guidance for a slight
decline.
The company's van business now expects to see an adjusted return
on sales of 13% to 15%, up from a prior forecast for 11% to 13%
growth.
Mercedes-Benz said the adjusted return on sales at its car and
van units in the second quarter were above the market consensus,
driven by higher prices and strong unit sales. Its earnings before
interest and taxes also topped expectations.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
July 26, 2023 15:28 ET (19:28 GMT)
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