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Volvo Headlines: 1Q24 Results Beat, Outlook Mixed

CAPITAL GOODS

Volvo headlines appear to be a beat on 1Q24 figures but with some mixed outlook stmts - more to follow:


  • VOLVO 1Q OPER PROFIT SEK18.16B, EST. SEK17.24B
  • VOLVO 1Q ADJ. OPER PROFIT SEK18.16B, EST. SEK17.23B
  • VOLVO 1Q NET SALES SEK131.2B, EST. SEK129.18B
  • VOLVO SAYS DEMAND CONTINUED TO NORMALIZE AT GOOD LEVELS IN 1Q
  • VOLVO 1Q ADJ. OPER MARGIN 13.8%, EST. 13.1%
  • VOLVO EXPECTS EUROPEAN CAPACITY TO BE `BACK IN BALANCE' IN 2Q
  • VOLVO SAYS MACK TRUCKS ORDER BACKLOGS `ARE STILL EXTENDED'
  • VOLVO SAYS CONSTRUCTION DEMAND `HAS COME DOWN' IN MANY MARKETS
  • VOLVO SAYS AT VOLVO PENTA, END CUSTOMER DEMAND HAS WEAKENED

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