Daimler Reports Free Cash Flow Gusher
Daimler, the maker of Mercedes-Benz cars, announced that free cash flow in the company's third quarter rose to €5.4 billion.
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Daimler, the maker of Mercedes-Benz cars, announced that free cash flow in the company’s third quarter rose to €5.4 billion from €1.6 billion in the third quarter of 2014. Excluding the effects of acquisitions and divestments, the company’s free cash flow in the third quarter rose to €2.9 billion, compared with the same €1.6 billion a year ago.
Daimler reported EBIT at its Mercedes-Benz cars division of €1.6 billion, up from €1.25 a year ago. Daimler truck earnings rose from €530 million to €618 million, Mercedes-Benz vans rose from €152 million to €176 million, Daimler buses rose from €61 million to €64 million and Daimler financial services rose from €322 million to €355 million.
The results track with the company’s sales report for September. Daimler sold more Mercedes cars in China during the month than it did in its home country of Germany. In fact, September’s sales were the best ever for the month, and the third quarter was the strongest sales quarter in the company’s history.
Daimler now expects EBIT for the full year to be “significantly higher” for its Mercedes-Benz cars division, its Daimler trucks division and its buses division. Earnings are expected to be slightly higher than last year for its financial services group and equal to last year in the van division. Daimler reports third-quarter results on October 23.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
