Daimler Reports Mixed Third-Quarter Results but Maintains Outlook; EUR 77 Fair Value Unchanged
No-moat rated Daimler reported third-quarter earnings per share (EPS) of EUR 2.43, EUR 0.20 ahead of the consensus EPS for the quarter and EUR 0.20 better than the same period a year ago. Group revenue increased 4% to EUR 38.6 billion on a 5% increase in unit volume because of recovering European demand for passenger cars, a solid increase in Chinese passenger car demand, plus improved European truck and global van sales. Excluding currency impact, revenue would have increased by just 3%. Despit...Daimler provides a range of transportation products, including passenger cars and commercial vehicles, and also financial services. Co. operates in five segments. Mercedes-Benz Cars sells passenger cars and off-road vehicles under the Mercedes-Benz brand and small cars under the smart brand. The Daimler Trucks distributes its trucks (Mercedes-Benz, Freightliner, FUSO, Western Star, Thomas Built Buses and BharatBenz). The vans of the Mercedes-Benz Vans segment are sold under the brand name Mercedes-Benz and Freightliner. Daimler Buses sells completely built-up buses (Mercedes-Benz and Setra). The Daimler Financial Services division supports sales of Co.'s automotive brands.
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