Volvo Q3 Profit Climbs On Higher Deliveries, Despite Weak Bus Sales

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(RTTNews.com) - Swedish automaker Volvo Group (VOLVY.PK) reported Friday that its third-quarter income climbed to 7.52 billion Swedish kronor from last year's 5.45 billion kronor. Earnings per share amounted to 3.67 kronor, up from 2.66 kronor a year ago.

Operating income grew to 10.25 billion kronor from 7.34 billion kronor last year. Operating margin improved to 11.1 percent from prior year's 9.6 percent.

In the quarter, net sales increased 21% to 92.3 billion kronor from 76.4 billion kronor last year. Adjusted for currency movements and acquired and divested units, sales increased by 13%.

Vehicle sales increased by 14% adjusted for currency movements, primarily driven by higher volumes of trucks and construction equipment.

Total net order intake increased 26% to 65,348 trucks and deliveries increased 14% to 52,993 vehicles.

Bus deliveries declined 16%.

Martin Lundstedt, President and CEO, said, "In the third quarter of 2018, demand was robust, with both our vehicle and service business continuing to grow at a good pace. ...Although this is the best third quarter ever for the Group, it does not mean that we have reached our full potential. There is more to do to improve profitability and drive cash flow."

Read the original article on RTTNews (http://www.rttnews.com/2945118/volvo-q3-profit-climbs-on-higher-deliveries-despite-weak-bus-sales.aspx)

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This article appears in: Fundamental Analysis , Stocks , Earnings
Referenced Symbols: VLVLY ,

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