Daimler Truck, a leading global truck manufacturer, is projecting its earnings for 2024 to remain roughly flat in comparison to the previous year, amidst a backdrop of declining truck sales due to normalizing demand and increased recession risks in its key markets. Historically, heavy truck sales have shown a pattern of peaking above 500,000 units before economic downturns, then troughing between 200,000 and 300,000 units. Despite these challenges, Daimler Truck has announced an increase in its dividend to shareholders and launched a buyback program, which has led to a surge in its stock price by 13%, reaching a new record.
Daimler Truck surges 13% to new record on bumper earnings, buyback announcement https://t.co/A3nNcX4FMZ
Daimler Truck , sees flat '24 earnings, rolls out cash for investors https://t.co/MoZ4H7ayxe https://t.co/4xnT1EejSF
Daimler Truck Expects 2024 Adjusted Earnings in Line With Previous Year; Raises Dividend https://t.co/qf9X2x8nNh
Daimler Truck is projecting roughly flat earnings this year as truck sales drop on normalizing demand and heightened recession risks in its biggest markets https://t.co/7DLKPY0CLg
"Amazing how consistently heavy truck sales have consistently peaked > 500,000 units before a downturn, then usually trough between 200,000 & 300,000". H/T @lhamtil https://t.co/WoWHjarCJn