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4 months ago
Daimler reports first-quarter EBIT up 87 percent in surprise release
April 11, 2017 / 9:58 PM / 4 months ago

Daimler reports first-quarter EBIT up 87 percent in surprise release

Journalists wait for the arrival of Daimler AG CEO Dieter Zetsche before the car maker's annual news conference in Stuttgart, Germany, February 2, 2017.Michaela Rehle

FRANKFURT (Reuters) - Daimler AG's (DAIGn.DE) operating profit jumped a better-than-expected 87 percent in the first quarter, the German luxury carmaker said in an unscheduled release late on Tuesday.

The maker of Mercedes-Benz cars and trucks said group earnings before interest and tax (EBIT) jumped to 4.01 billion euros ($4.25 billion), "significantly above market expectation" and up from 2.15 billion euros a year ago, citing unaudited figures.

Two analysts providing estimates for a Thomson Reuters consensus had forecast just over 3 billion euros on average for the quarter.

The company is scheduled to release its quarterly financial report on April 26.

EBIT at the Mercedes-Benz Cars unit rose 60 percent to 2.23 billion euros while combined EBIT from trucks, vans and buses rose 27 percent to 1.09 billion euros.

In late March the company said it expected record sales volumes for its Mercedes-Benz Cars division in the first quarter.

Reporting by Ludwig Burger; Editing by Larry King and Leslie Adler

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