Free Trial

Volvo (A2/A): Q124 Results

CAPITAL GOODS

Neutral for spreads. Equity may be buoyed by higher than expected margins.


• Revenue and adj. operating profit beat consensus by 2% and 5% respectively.

• Although operating margin was lower YoY again, 13.8% achieved was better than 13.1% consensus.

• Cash flow improved YoY due to change in WC, with the company claiming better inventory management. Leverage is little changed.

• Order intake missed (by 2%) for the second quarter running.

• FY24 volume forecasts were reiterated.

• Call 8am CEST https://qreport.volvogroup.com/

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.