Daimler Truck Announces 1.1 Billion Euro Share Buyback

Daimler Truck will launch a second tranche of its share buyback program in September, valued at up to 1.1 billion euros ($1.27 billion). The program is scheduled to begin immediately after the first tranche concludes in mid-September and will run through June.

The announcement follows the company's confirmation of preliminary second-quarter results and a previous increase in full-year financial guidance. The company now targets adjusted earnings before interest and taxes between 3.6 billion and 4.1 billion euros, with forecasted unit sales ranging from 340,000 to 370,000.

Chief Executive Officer Karin Radstrom attributed the raised guidance to strong results and an improved outlook for Trucks North America. She cited higher unit sales and a reduced tariff impact for the remainder of the year as primary drivers for the company's confidence.