(RTTNews) – AB Volvo (VOLVY.PK), a Swedish commercial vehicle manufacturer, reported Friday higher profit for its second quarter, benefited by increased truck deliveries, while Construction equipment deliveries were lower.
Income for the period totaled SEK 10.373 billion against SEK 7.525 billion in the prior period. Earnings per share increased to SEK 5.10 from SEK 3.64 a year ago.
Operating income amounted to SEK 13.478 billion, compared to SEK 9.961 billion previously, corresponding to an operating margin of 10.7 percent versus 8.1 percent last year.
Adjusted operating income reached SEK 14.783 billion, up from SEK 13.484 billion in the prior year, with an adjusted operating margin of 11.7 percent, compared to 11.0 percent a year ago.
Net sales increased 3 percent to SEK 126.27 billion from SEK 122.90 billion in the prior period, with organic sales growth reaching 7 percent.
Truck deliveries reached 55,687 units, compared to 52,764 units previously. Construction equipment deliveries totaled 8,834 units, down from 16,987 units last year.
Net order intake for trucks climbed to 63,412 units from 47,761 units in the prio year. Construction equipment order intake decreased to 8,096 units from 16,720 units a year ago.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
