DDAIF - Mercedes-Benz Group credits strong EV demand pricing power for earnings beat

Mercedes-Benz Group AG (OTCPK:DDAIF) drove earnings results past estimates to impress analysts on Wednesday. The German auto group reported Q1 GAAP EPS of €3.26 and revenue of €34.86 billion, adding that Group EBIT rose 11% to €5.2 billion from €4.7 billion in the year prior. The company touted operational efficiency and price hikes as crucial to maintaining the results in the first quarter and keeping full year guidance on track amid raw material price increases and supply chain problems. “The demand for our products remained extremely strong in the quarter,” CFO Harald Wilhelm told analysts on Wednesday morning. “However, the volume and sales have been impacted on a continued basis by the [semiconductor] constraints. The semi capacity has been coming back online, but still I mean a high level of volatility and selective bottlenecks among critical components, which did not allow us to push all of the demand in terms

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Mercedes-Benz Group credits strong EV demand, pricing power for earnings beat