Volvo Posts Q3 Sales Growth Of 15% On Higher Deliveries
Portfolio Pulse from Lekha Gupta
Volvo AB reported Q3 FY23 sales growth of 15% Y/Y and 9% Y/Y (adjusted for currency) to SEK 132.4 billion ($12.24 billion). Net sales in the truck business rose 13% Y/Y to SEK 89.9 billion. Order intake of new trucks declined by 27% Y/Y, while deliveries increased by 4% Y/Y. The adjusted operating income for the quarter jumped 61% Y/Y to SEK 19.114 billion, and the adjusted operating margin expanded to 14.4% from 10.3% a year ago. EPS of SEK 6.93 in the quarter increased from SEK 4.24 last year.
October 18, 2023 | 10:39 am
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Volvo AB reported strong Q3 FY23 results with significant growth in sales and operating income. However, the order intake of new trucks declined by 27% Y/Y.
The strong Q3 FY23 results, including a 15% Y/Y sales growth and a 61% Y/Y jump in adjusted operating income, are likely to have a positive impact on Volvo's stock. However, the 27% Y/Y decline in the order intake of new trucks could be a concern for investors, potentially limiting the stock's upside.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100