Daimler Truck (DTG) Q1 2026 earnings summary

Executive summary

• Revenue declined 13% year-over-year to €10.0 billion, with adjusted EBIT down 54% to €498 million and net profit falling 80% to €149 million.

• Group unit sales declined 9% year-over-year to 68,849 units, while zero-emission vehicles rose 26% to 742 units.

• Free cash flow of the industrial business was negative at -€445 million, mainly due to lower sales volumes and inventory build-up.

• Integration of Mitsubishi Fuso and Hino into ARCHION completed, with deconsolidation of Mitsubishi Fuso and equity method accounting for ARCHION.

• Despite challenging conditions, strong order intake and a book-to-bill ratio of 166% support confidence for the rest of the year.

Financial highlights

• Industrial business revenue declined 14% year-over-year to €9.1 billion; adjusted EBIT down 55% to €460 million.

• Net industrial liquidity stood at €7.1 billion, down 7% from Q4 2025.

• Free cash flow (industrial business) was -€445 million, compared to €33 million in Q1 2025.

• Adjusted return on sales for Industrial Business: 5.0% (Q1 2025: 9.6%).

• EPS: €0.2 (down from €0.9 in Q1 2025).

Outlook and guidance

• 2026 outlook unchanged: adjusted Group EBIT expected between €3.2–3.7 billion.

• Industrial Business unit sales forecast at 330–360 thousand units, adjusted return on sales of 6–8%, and free cash flow between €2.7–3.2 billion.

• North American heavy-duty market expected at 250,000–290,000 units; EU30 market at 290,000–330,000 units.

• Trucks North America and Mercedes-Benz Trucks expected at lower end of guidance for Q2 2026; Daimler Buses at upper end.

• Cost Down Europe program targets €1 billion annual cost reduction by 2030.