Daimler Reports Its First Quarterly Profit in a Year
Daimler AG Tuesday reported its first quarterly profit in a year, saying it earned about $61 million, or 4 cents a share, in the third quarter, down from about $200 million, or 21 cents, a year ago.
The parent company of Daimler Trucks North America, which makes Freightliner Trucks, had taken about $5.7 billion in losses in the previous three quarters as the global recession hit the auto and truck industry.
The profit was largely boosted by the company’s auto division, Bloomberg reproted. Germany-based Daimler reports its earnings in euros.
Daimler’s worldwide truck division is “still operating in a difficult marketing environment,” the company said in a statement.
Unit sales in North America — including Freightliner and Sterling Trucks, as well as Thomas Built buses — totaled 15,200 vehicles, down 41% from a year ago.
Asian sales also declined more than 40%, though the company said it sees long-term growth in Russia.
