Mercedes-Benz: 22.5% contraction in quarterly EPS

(CercleFinance.com) - Mercedes-Benz reports Q1 sales of E35,873m, down 4.
4% y-o-y.

Meanwhile, adjusted EBIT contracted by 33.6% to E3,598m, and net income came in at E3,025m, down 24.6%, although ahead of consensus, for EPS of E2.86, down 22.5%.

FCF came in at E2,233m, up 3.2%.

Management said that while remaining vigilant with regard to the global macroeconomic and geopolitical outlook, it confirms its financial targets for FY 2024.

For 2024, the car maker is targeting group sales at the same level as in 2023. Group EBIT and free cash flow from industrial operations are expected to be slightly below the previous year's level.


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