AGL 41.03 Decreased By ▼ -0.47 (-1.13%)
AIRLINK 126.99 Decreased By ▼ -1.01 (-0.79%)
BOP 6.54 Increased By ▲ 0.28 (4.47%)
CNERGY 4.13 No Change ▼ 0.00 (0%)
DCL 8.66 Increased By ▲ 0.22 (2.61%)
DFML 41.52 Increased By ▲ 0.83 (2.04%)
DGKC 86.80 Decreased By ▼ -1.10 (-1.25%)
FCCL 33.50 Decreased By ▼ -0.60 (-1.76%)
FFBL 65.90 Decreased By ▼ -0.43 (-0.65%)
FFL 10.47 Decreased By ▼ -0.09 (-0.85%)
HUBC 110.25 Increased By ▲ 1.55 (1.43%)
HUMNL 14.72 Increased By ▲ 0.26 (1.8%)
KEL 4.85 Increased By ▲ 0.20 (4.3%)
KOSM 7.85 Increased By ▲ 0.52 (7.09%)
MLCF 41.98 Decreased By ▼ -0.74 (-1.73%)
NBP 61.24 Increased By ▲ 0.40 (0.66%)
OGDC 182.12 Increased By ▲ 3.15 (1.76%)
PAEL 25.10 Decreased By ▼ -0.60 (-2.33%)
PIBTL 6.21 Increased By ▲ 0.15 (2.48%)
PPL 147.80 Increased By ▲ 1.65 (1.13%)
PRL 24.77 Decreased By ▼ -0.14 (-0.56%)
PTC 16.08 Decreased By ▼ -0.06 (-0.37%)
SEARL 69.93 Decreased By ▼ -0.27 (-0.38%)
TELE 7.38 Increased By ▲ 0.16 (2.22%)
TOMCL 36.30 Increased By ▲ 0.10 (0.28%)
TPLP 7.92 Increased By ▲ 0.08 (1.02%)
TREET 15.26 Decreased By ▼ -0.33 (-2.12%)
TRG 52.27 Increased By ▲ 1.91 (3.79%)
UNITY 26.91 Increased By ▲ 0.01 (0.04%)
WTL 1.23 Decreased By ▼ -0.01 (-0.81%)
BR100 9,841 Increased By 46 (0.47%)
BR30 29,960 Increased By 313.4 (1.06%)
KSE100 92,424 Increased By 402.1 (0.44%)
KSE30 28,761 Increased By 96.1 (0.34%)

Third-quarter core profit at Germany’s Daimler Truck just beat expectations, the firm said on Thursday, driven by a strong performance in North America even as Europe continued to weigh.

Adjusted earnings before interest and taxes came in at 1.19 billion euros ($1.28 billion), compared to analysts’ average estimate of 1.14 billion euros.

Core profit rose 2% at its Trucks North America segment to reach 725 million euros but fell 46% at its Europe-focused Mercedes-Benz business to 283 million euros.

The truckmaker, which also makes yellow school buses under the Thomas Built brand, confirmed its latest outlook for the year.

Daimler Truck orders fall on weakness in Europe and Asia

It had cut its outlook in July and said in August that it would reduce hours for some employees in Germany as a result of weak demand in Europe and Asia.

Orders, an indicator of future sales, fell 4% in the quarter to 94,709 units, signalling further tough times ahead.

Daimler Truck chairman Joe Kaeser said in September that the firm’s new CEO, Karin Radstrom, would have to get the firm ready for a prolonged slowdown in demand. He did not specify what measures she should take.

Comments

200 characters