🚀 Daimler Truck shares $DTG.DE Flying up more than 18% to a new record thanks to great results and a share buyback plan! 💹📈

Daimler Truck is a manufacturer of trucks and buses. Two years ago, the company Daimler split into Mercedes Benz (car and van manufacturer) and into Daimler Truck.

In this sector, the biggest competitors are Sweden's Volvo $VOLVB.PR, Germany's Traton SE $8TRA.DE (a subsidiary of Volkswagen) and the American manufacturer Paccar $PCAR.

Today the stock Daimler Truck reach a new all-time high! Share price rises after announcement of quality full-year earnings and a share buyback program worth EUR 2 billion (2.16 billion USD).

The German truck maker beat all expectations with record pre-tax profits of €5.5 billion for 2023, an impressive increase of 39 % from the previous year(€4.4 billion). Analyses had been forecasting an EBIT of EUR 5.2 billion, which is a pleasant surprise for investors!

The company plans to launch a share buyback programme over the next 24 months and has proposed a dividend for 2023 of EUR 1.9 per share, which is about EUR 0.6 more than the previous year.

Daimler'schairman , Martin Daum, celebrates a record year in 2023, but also warns of "difficult economic conditions" that could lead to stagnating sales and profits in 2024.🌐🚗

Do you know Daimler Truck? Do you have a representative in the truck industry?