Daimler : Says 3Q Beat Views; Expects Strong 4Q – Marketscreener.com

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 EUR2.49 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 EUR1.78 billion consensus forecast.

Daimler Trucks & Buses reported an EBIT of EUR541 million, the company said, compared with consensus expectations of EUR400 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

10-16-20 0137ET