Streetbeat News

VLVLY

Volvo AB

https://www.volvogroup.se/

CEO

Martin Lundstedt

Open

27.23

Mkt cap

55B

Volume

High

27.39

P/E Ratio

11.31

52-wk high

30.14

Low

27.23

Div yield

0.06

52-wk low

20.10

Natural gas prices have hit record lows, leading to lower heating bills and potential impacts on natural gas vehicle markets. Companies like Blue Bird Corp, Volvo ADR, and Clean Energy Fuels Corp are directly affected.

Portfolio Pulse from Hayden Buckfire

June 04, 2024 | 5:44 pm

Zhejiang Geely Holding Group (OTC:GELLY) has entered the global top 10 for auto sales in Q1 2024, marking a first for a Chinese carmaker. Geely sold 730,000 vehicles, a 27% year-on-year growth, driven by strong electric vehicle exports. The company surpassed Mercedes-Benz and BMW in the rankings. Geely's EV arm, Zeekr Intelligent Technology Holding Limited (NYSE:ZK), aims to double car deliveries in 2024.

Portfolio Pulse from Benzinga Neuro

May 28, 2024 | 9:36 am

BMW Group imported over 8,000 Mini Cooper vehicles into the U.S. containing banned Chinese components. The company has ceased importing the affected products and will replace the parts. The Uyghur Forced Labor Prevention Act (UFLPA) law aims to curb imports produced with forced labor from China’s Xinjiang region. Lear Corp informed BMW, Jaguar Land Rover, Volvo, and Volkswagen about the banned components. Volkswagen confirmed holding several thousand vehicles at U.S. ports due to the issue.

Portfolio Pulse from Shivani Kumaresan

May 20, 2024 | 5:11 pm

Volvo Group and Daimler Truck plan to form a 50/50 joint venture to develop a software-defined heavy-duty vehicle platform, aiming to enhance customer efficiency and experience. The new company will be headquartered in Gothenburg, Sweden.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 9:04 am

Volvo reported a Q1 EPS of $0.67, up 9.02% from $0.61 YoY, with sales reaching $12.62B, a 0.36% increase from $12.58B YoY.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 5:45 am

Volvo Cars (OTC:VLVLY) has partnered with Breathe Battery Technologies to reduce EV charging times by up to 30%. The collaboration aims to enhance charging efficiency using Breathe's battery management software, which promises faster charging while maintaining battery health. This move is part of Volvo's broader strategy to transition to electric mobility, including adopting Tesla's North American charging standard and phasing out diesel cars by 2024.

Portfolio Pulse from Benzinga Neuro

March 12, 2024 | 10:22 am

Volvo reported a strong Q4 2023 with a 10% increase in net sales to SEK 148.1 billion and a significant rise in EPS to SEK 5.93 from SEK 3.26 YoY. Adjusted operating income was SEK 18,384 M, up from SEK 12,171 M, with a margin of 12.4%. Currency movements positively impacted operating income by SEK 1,106 M, and operating cash flow in the Industrial Operations was SEK 22,655 M.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 6:37 am

Polestar CEO Thomas Ingenlath is optimistic about the company's EV sales in 2024 despite a tough end to 2023. Polestar, co-owned by Volvo, is launching a new SUV coupe and starting production of the Polestar 3. In 2023, Polestar delivered 54,600 cars, missing its 60,000 target. Hertz plans to sell 20,000 EVs due to costs and demand issues, but Ingenlath believes Hertz will continue buying from Polestar.

Portfolio Pulse from Anan Ashraf

January 20, 2024 | 4:01 am

Volvo (OTC:VLVLY) has agreed to sell its Arquus defense unit to John Cockerill Defense. The transaction is expected to be completed after staff consultations, concluding in Q1 2024. Volvo anticipates an operating loss of 900 million Swedish crowns ($87.44 million) due to the sale, impacting Q4 2023 earnings. Arquus, which contributes about 1% to Volvo's revenues, employs around 1,200 people in France. The loss will be reported under 'Group Functions & Other' and won't affect adjusted operating income. VLVLY's stock closed up 0.62% at $24.32.

Portfolio Pulse from Shivani Kumaresan

January 16, 2024 | 12:11 pm

Volvo Group has entered into an option agreement with John Cockerill Defense to potentially sell its defense vehicle subsidiary, Arquus. The deal is expected to be finalized in Q1 2024 after staff consultations. The agreement will negatively impact Volvo Group's operating income by approximately SEK 900 million in Q4 2023. Arquus contributes about 1% to Volvo Group's revenues and employs around 1,200 people in France. The negative earnings effect will be reported under Group Functions & Other and will not affect adjusted operating income.

Portfolio Pulse from Benzinga Newsdesk

January 15, 2024 | 11:28 am

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