Daimler Truck Financial Services originations rise 4.2%
Daimler Truck's incoming orders jumped 27.2% YoY in Q2
Daimler Truck reported origination growth for its financial services segment in the second quarter as unit sales and incoming orders increased.
Amid improving industry conditions, the German commercial vehicle OEM is benefiting from rebounding North American demand “driven by higher unit sales and a lower tariff impact for the remainder of the year,” giving Daimler the confidence to raise our full-year guidance,” President and Chief Executive Karin Radstrom stated in today’s Q2 earnings release:
Daimler expects continued tariff-related improvements and increasing unit sales in the second half , according to the release.
The company’s financing arm, Daimler Truck Financial Services, reported in Q2:
- New business volume totaled 2.6 billion euros ($3 billion), up 4.2% year over year;
- Penetration rate rose 60 basis points YoY to 23.4%; and
- Adjusted EBIT surged 152.2% YoY to $67.1 million.
Daimler Truck’s Q2 results included:
- Revenue increased 5.5% YoY to $13.2 billion;
- Adjusted EBIT declined 18% YoY to $968.8 million;
- Unit sales rose 7.6% YoY to 86,707 vehicles; and
- Incoming orders jumped 27.2% to 74,448.
Daimler now projects adjusted EBIT between $4.2 billion and $4.7 billion in 2025, up from its Q1 projection of $3.7 billion to $4.3 billion.
Editor’s note: All amounts have been converted to U.S. dollars.
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