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Daimler Trucks Q4 2023 Earnings

Supply chain disruptions have caused production backlogs at Daimler Trucks, the world’s largest truck maker.

Bloomberg | Getty Images

shares of daimler truck The company hit a new record high on Friday, surging more than 13.5% in early trading after posting a record full-year profit and announcing a 2 billion euro ($2.16 billion) share buyback program. .

german truck manufacturer Posted Pre-tax profit for 2023 exceeded expectations at $5.5 billion, an increase of 39% from 4.4 billion euros a year earlier. Analysts had expected EBIT (earnings before taxes) to be $5.2 billion.

The company also said it would implement a share buyback program over the next 24 months and proposed a dividend of 1.9 euros per share in 2023, up from 1.3 euros a year earlier.

Shares fell slightly, rising 12.4% by 10:15 a.m. London time.

Daimler Chairman Martin Daum said in a statement that 2023 was a record year for the company, but that sales and profits were likely to be flat in 2024 amid “difficult economic conditions.” I warned you.

mercedes and general motors Several other automakers have announced share buybacks and dividend increases in recent months to return cash to investors.

Summarize this content to 100 words Supply chain disruptions have caused production backlogs at Daimler Trucks, the world’s largest truck maker.Bloomberg | Getty Imagesshares of daimler truck The company hit a new record high on Friday, surging more than 13.5% in early trading after posting a record full-year profit and announcing a 2 billion euro ($2.16 billion) share buyback program. .german truck manufacturer Posted Pre-tax profit for 2023 exceeded expectations at $5.5 billion, an increase of 39% from 4.4 billion euros a year earlier. Analysts had expected EBIT (earnings before taxes) to be $5.2 billion.The company also said it would implement a share buyback program over the next 24 months and proposed a dividend of 1.9 euros per share in 2023, up from 1.3 euros a year earlier.Shares fell slightly, rising 12.4% by 10:15 a.m. London time.Daimler Chairman Martin Daum said in a statement that 2023 was a record year for the company, but that sales and profits were likely to be flat in 2024 amid “difficult economic conditions.” I warned you.mercedes and general motors Several other automakers have announced share buybacks and dividend increases in recent months to return cash to investors.
https://www.cnbc.com/2024/03/01/daimler-truck-earnings-q4-2023.html Daimler Trucks Q4 2023 Earnings

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