Benzinga | Jul 21, 2021 11:56AM EDT

Daimler Q2 Revenue Beat Estimates; Warns Semiconductor Shortage May Dent Car Sales

* Daimler AG (OTC:DMLRY) reported second-quarter FY21 revenue growth of 44% year-on-year to (euro)43.5 billion, beating the analyst consensus by (euro)740 million.

* Mercedes-Benz cars and vans sold 619,558 units, a 29% Y/Y growth, raking in revenue of (euro)28.2 billion.

* Daimler trucks and buses sold 116,827 units, a 91% Y/Y rise, with revenue of (euro)10 billion.

* Adjusted free cash flow of the industrial business for the quarter was (euro)2.9 billion.

* The company reported EPS of (euro)3.36, versus a (euro)1.87 loss last year.

* "The entire industry is currently struggling with longer delivery times, which unfortunately also affect our customers. We are doing what we can to minimize the impact," said Chairman of the Board of Management Ola K?llenius.

* Outlook: Daimler expects a gradual normalization of economic conditions in the important markets.

* It anticipates revenue and EBIT in 2021 to be significantly above the prior year's level.

* Meanwhile, it assumes the shortage of semiconductor components will affect the business in the second half of the year.

* Price action: DMLRY shares are up 0.39% at $20.805 on the last check Wednesday.