EU AUTOMOTIVE: Daimler Truck (DTRGR A3/A-/NR): 1Q25 Results
May-14 10:45
Strong start to the year was NA driven, possibly suggesting pull-forward ahead of tariffs. Guidance was lowered but less than expected. We see no credit impact.
- Daimler Truck reported revenue 4% ahead of consensus at -7% YoY. Orders fell 3% on NA weakness.
- Adj. EBIT beat by 17% with margin 115bp ahead at 9.35%.
- Industrial FCF fell to €30m from €1.2bn YoY, substantially due to less favourable working capital, particularly receivables due to YoY timing differences.
- Industrial net cash fell to €7.9bn from €8.6bn QoQ.
- FY25 volume guidance was lowered due to tariff impact in NA. Adj. EBIT is now expected to be -5% to +5% YoY, from +5 to +15%. Consensus was already ahead of that at -4%. FCF guidance was unchanged.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
OUTLOOK: Price Signal Summary - Gold Bulls Remain In The Driver's Seat
Apr-14 10:33
- On the commodity front, the trend condition in Gold remains bullish and last week’s rally confirms and reinforces this condition. The yellow metal has traded through $3167.8, the Apr 3 high, to resume the primary uptrend and trade to fresh all-time highs. Moving average studies are unchanged, they remain in a bull-mode position highlighting a dominant uptrend. Initial firm support lies at 3063.4, the 20-day EMA. Sights are on 3291.8, a 1.00 projection of the Feb 28 - Apr 3 - Apr 7 price swing.
- In the oil space, a bearish theme in WTI futures remains intact and last Wednesday's rally is - for now - considered corrective. The move higher is allowing an oversold trend condition to unwind. Recent weakness has resulted in the breach of a number of important support levels, reinforcing a bearish threat. A resumption of the bear cycle would open $54.26, a 2.236 projection of the Feb 11 - Mar 5 - Apr 2 price swing. Initial firm resistance is seen at $64.85, the Mar 5 low and a recent breakout level.
LOOK AHEAD: Monday Data Calendar: NY Fed 1Y Inflation Expectations, Fed Speak
Apr-14 10:31
- US Data/Speaker Calendar (prior, estimate)
- 14-Apr 1100 NY Fed 1-Yr Inflation Expectations (3.13%, --)
- 14-Apr 1130 US Tsy $76B 13W, $68B 26W bill auctions
- 14-Apr 1300 Fed Gov Waller economic outlook (text, Q&A)
- 14-Apr 1800 Philly Fed Harker on role of Fed (tex, Q&A)
- 14-Apr 1940 Atlanta Fed Bostic fireside chat on policy
US INFLATION: MNI US Inflation Insight: No Tariff Surge Realization In March
Apr-14 10:15
- We have published and e-mailed to subscribers the MNI US Inflation Insight.
- Please find the full report including MNI analysis and a range of analyst core PCE estimates here: https://media.marketnews.com/US_Inflation_Insight_Apr2025_6247605af4.pdf
