Volvo reports Q3 EPS SEK 4.93 vs. SEK 6.93 last year

Reports Q3 revenue SEK 117B vs. SEK 132.3B last year. “In Q3 2024, demand continued to normalize on most of the Volvo (VLVLY) Group’s markets. We are seeing that freight and construction activity has come down in many regions across the world compared with the very high levels of last year. Our net sales decreased by 7% when adjusted for currency and amounted to SEK 117.0 billion (132.3). Sales of vehicles were 11% lower than last year while sales of services remained resilient and increased by 4%. We continued to generate good profits on the lower sales volumes with an adjusted operating income of SEK 14.1 billion (19.3) and a margin of 12.0% (14.4) thanks to hard work by our colleagues and business partners,” said Martin Lundstedt, president and CEO.