Daimler Truck raises 2023 guidance for revenue, profit

BERLIN (Reuters) – Daimler (OTC:) Truck has raised its guidance for adjusted returns on sales in its industrial business to a range of 8.5% to 10% from 7.5% to 9% previously for the financial year 2023, it said on Monday.

The truck and busmaker now expects revenue to reach 56-58 billion euros ($63.79 billion), from 55-57 billion previously, with unit sales forecast around 20,000 higher to a range of 530,000 to 550,000.

Its adjusted return-on-sales forecast rose to 11-13% for its North America division, 8-10% for its Europe division, and 4-6% for its Asia division.

The company also announced a share buyback program starting August 2023 of up to 2 billion euros, to be acquired over up to two years.

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