Daimler Truck Unveils Second €1.1 Billion Buyback and US Expansion Plans
Daimler Truck's Strategic Moves and Financial Performance
Aug 7 (Reuters) - Daimler Truck will launch the second up to €1.1 billion ($1.3 billion) tranche of its share buyback programme immediately after completing the first by mid-September, it said on Friday, after improving business conditions in the U.S. allowed it to raise its profit forecast last month.
Share Buyback Programme Details
The next phase of the buyback plan will run through the end of June 2027, Chief Financial Officer Eva Scherer said in a statement, as the truck maker also confirmed its pre-announced second-quarter results, including an 18% drop in its adjusted operating profit to €838 million.
Financial Results and Outlook
Last month, Daimler cited higher expected unit sales at its North American arm and a lower tariff burden for the rest of the year as reasons for the 2026 outlook hike.
Tariff Updates
That was after the U.S. Department of Commerce approved the company's U.S. Content application, updating its tariff framework with an effective date of November 1, 2025.
US Expansion Plans
The owner of U.S. truck brand Freightliner said on Thursday it would build a new manufacturing facility in the U.S. as part of a plan to expand its North American footprint. It is evaluating several potential locations and expects to start construction in late 2026, with production scheduled to start in 2029.
Currency Exchange Rate
($1 = 0.8679 euros)
Reporting Credits
(Reporting by Amir Orusov; Editing by Milla Nissi-Prussak)
