Earnings roundup: Daimler, Cummins post increased first quarter revenues

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Updated Apr 30, 2015

Daimler Trucks and Cummins announced their first quarter earnings this week, and both companies showed increased revenues over the same period the previous year.

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Freightliner CascadiaFreightliner Cascadia

Daimler: First quarter unit sales by Daimler Trucks increased worldwide by 4 percent to 112,400 vehicles, the company reported this week. Sales in North America totaled 40,800 vehicles, with unit sales climbing by 18 percent. Daimler makes both Freightliner and Western Star truck brands, as well as Detroit engines and transmissions.

Daimler CFO Bodo Uebber said, in total, the order backlog for Daimler Trucks increased by around 40 percent compared to the end of March 2014. Uebber added that the company expects North American truck orders to increase by 10 to 15 percent this year.

Daimler Trucks achieved revenue of $9.2 billion (+18 percent) in the quarter. The division’s EBIT of $518 million was significantly above the prior-year level, and its return on sales was 5.6 percent.[/gttable]

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2017 ISX15Cummins: Cummins reported first quarter revenue of $4.7 billion, an increase of 7 percent over the same quarter in 2014. The increase year-over-year was driven by stronger demand in on-highway markets and distributor acquisitions in North America.

Revenues in North America increased 17 percent, while international sales declined by 6 percent. Within international markets, lower revenues in Europe and Brazil offset growth in China.

Earnings before interest and taxes (EBIT) increased to $562 million for the first quarter, or 11.9 percent of sales, up from $528 million (12.0 percent) of sales a year ago.[/gttable]

Volvo and Paccar announced their first quarter earnings last week. Click here to read reports on their earnings.