Daimler Truck announced plans to launch the second tranche of its share buyback program next month. Valued at up to 1.1 billion euros ($1.27 billion), the program will commence immediately following the completion of the first tranche, which is expected by mid-September at the latest. This second phase is scheduled to run through June.

The German truck and bus maker shared these plans alongside its confirmation of preliminary second-quarter results. Group incoming orders for the second quarter rose 27%, reflecting strong momentum for the manufacturer.

In July, the company lifted its adjusted earnings before interest and taxes target to between 3.6 billion and 4.1 billion euros for the year. Additionally, the company expects unit sales of 340,000 to 370,000 and an adjusted return on sales for its industrial business of between 7% and 9%.