EarningsQ2 2026 Earnings Report
MX:MBGN Q2 2026 EPS Results
Actual EPS$23.36
Consensus EPS$25.92
Beat/MissMissed by -$2.56
One Year Ago EPS$19.47
MX:MBGN Q2 2026 Revenue Results
Actual Revenue$657.01B
Expected Revenue$653.34B
Beat/MissBeat by +$3.67B
YoY Revenue Growth-3.29%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeBefore Open
Conference CallTuesday, July 28, 2026
MX:MBGN Upcoming Earnings
Mercedes-Benz Group's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:MBGN Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a broadly constructive financial and operational picture: strong profitability year‑over‑year (EBIT +22%), solid cash generation, aggressive shareholder returns, meaningful BEV and eVans volume growth, and clear product and technology momentum (MB.OS, axial‑flux motor, ADAS). However, material challenges remain—most notably the sharp China market downturn, China‑related valuation adjustments, pricing and FX headwinds, and expected H2 cost pressures and seasonality that put margin delivery at risk. On balance, the company demonstrates resilience and a credible plan to address weakness (product launches, productivity initiative, footprint optimization), and the positives modestly outweigh the negatives.Company Guidance
Industrial footprint and productivity actions
Kecskemét (Hungary) plant expansion doubled capacity to enable production shifts (e.g., new electric C‑Class and GLC), and a global productivity initiative (special focus on Germany) launched to improve competitiveness and lower weighted average production costs.
Group profit and cash generation
Reported group EBIT of EUR 1.5 billion (22% above prior year) and adjusted group EBIT of approximately EUR 2.3 billion. Free cash flow of EUR 1.1 billion in the quarter and EUR 3.0 billion generated in H1; net industrial liquidity (NIL) remains healthy at EUR 30 billion.
Strong capital returns to shareholders
Total cash return to shareholders of EUR 5.0 billion in H1 (EUR 3.3 billion dividend and ~EUR 1.7 billion share buybacks in H1). Continued share buyback program of up to EUR 1.0 billion to be completed prior to AGM 2027.
BEV / xEV momentum and upgraded mix guidance
Second-generation BEV volumes up 51% year-on-year (Europe up 87%). Full-year xEV share guidance for Cars raised to 23%–25%.
Cars division profitability within guidance
Mercedes‑Benz Cars delivered adjusted EBIT around EUR 900 million and adjusted return on sales of 4% in Q2, inside the full‑year guidance range of 3%–5% (company expects to be in the lower half of the range for the full year).
Vans strong performance and electrification
Vans sold ~94,000 units in Q2, revenue ~EUR 4.5 billion, adjusted EBIT ~EUR 450 million and adjusted return on sales of 10.2%. eVans grew 46% year‑on‑year and global xEV share for Vans reached ~11%.
Financial Services outperformance
Mercedes‑Benz Financial Services delivered adjusted EBIT close to EUR 500 million (up ~70% year‑on‑year) and reported an adjusted return on equity of 14.4% in H1; full‑year guidance raised to 12%–14%.
Product and technology momentum
Multiple product launches and ramp‑ups underway (AMG GT 4‑Door Coupe, GLS Maybach, C‑Class BEV, GLE, GLS, VLE, upcoming GLA and electric AMG SUV). Technology milestones include start of axial‑flux motor production, new EU7‑ready electrified V8 development, rollout of MB.OS across portfolio, and AI‑based point‑to‑point ADAS rollout (China → US → targeted EU adoption).
MX:MBGN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed