Daimler Truck Q1 Revenues Surge 25% On Continued Higher Demand, 2023 Outlook Reaffirmed

Daimler Truck Holding DTRUY reported a Q1 2023 revenue increase of 25% Y/Y to €13.2 billion.
The top line benefitted from stabilizing global supply chains, increased demand and higher unit sales.
Group unit sales rose 15% Y/Y to 125,172 units.
Adjusted EBIT rose by 78% Y/Y to €1.16 billion, with adjusted EBIT in the Industrial Business segment increasing 84% Y/Y to €1.11 billion.
FCF of the Industrial Business rose by 129% Y/Y to €168 million. The adjusted return on sales stood at 8.8% (vs. 5.9% in Q1 2022).
EPS increased significantly to €0.90 from €0.31 a year ago.
2023 Outlook Reiterated: The company expects unit sales of 510,000-530,000 units and revenues of €55 billion-€57 billion.
Daimler Truck expects adjusted EBIT to significantly increase Y/Y and the Industrial Business FCF to be higher Y/Y in 2023.
"We have set the clear goal to continue our profitable growth in 2023. After the first quarter, we can state: We started strong and we are on track. Our results in Q1 exceeded the capital market's profit expectations and all our Industrial Business segments contributed to the growth in profitability. The continued high demand for our trucks, buses and services is a good foundation to keep the positive momentum for the coming quarters," said Jochen Goetz, CFO.
Price Action: DTRUY shares closed lower by 0.12% at $16.10 on Monday.
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