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| Name | Symbol | Market | Type |
|---|---|---|---|
| Mercedes Benz Group AG (PK) | USOTC:MBGYY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.06 | -0.33% | 18.07 | 18.00 | 18.13 | 18.12 | 17.97 | 18.06 | 87,744 | 21:04:34 |
From May 2023 to May 2024
By Dean Seal
Mercedes-Benz Group has raised its annual guidance in light of what it is calling "solid financial results" for the second quarter, which will be released Thursday.
The German luxury car maker said it now expects industrial free cash flow to be slightly higher than the prior-year level, rather than flat as it had previously projected.
Earnings before interest and taxes are now forecast to be level with last year, compared with previous guidance for a slight decline.
The company's van business now expects to see an adjusted return on sales of 13% to 15%, up from a prior forecast for 11% to 13% growth.
Mercedes-Benz said the adjusted return on sales at its car and van units in the second quarter were above the market consensus, driven by higher prices and strong unit sales. Its earnings before interest and taxes also topped expectations.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
July 26, 2023 15:28 ET (19:28 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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