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Volvo Truck Earnings Jump, but Orders Fall
Commercial truckmaker AB Volvo reports its net income in the third quarter more than doubled to 3.1 billion kronor ($364 million). Operating income surged to 4.6 billion kronor from 2.3 billion in the same period in 2914.
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Commercial truckmaker AB Volvo reports its net income in the third quarter more than doubled to 3.1 billion kronor ($364 million). Operating income surged to 4.6 billion kronor from 2.3 billion in the same period in 2914.
Sales rose 9% to 73.3 billion kronor ($8.6 billion), mainly because of acquisitions and favorable exchange rates. On an adjusted basis, July-September sales advanced only 1%.
Sales were driven by strong demand in North America and Europe and tempered by a sharp decline in South America. But the company cautions that net orders for new trucks fell 15% to 42,600 units as an 11% gain in Europe was offset by a 40% drop in North America.
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