Truckmaker Volvo meets operating profit forecast amid weaker Americas demand
Swedish truckmaker Volvo reported a third-quarter operating profit of 11.7 billion Swedish crowns, matching market expectations despite weaker demand in the Americas. This is a decline from 14.1 billion crowns a year earlier. Volvo has lowered its outlook for the North American truck market while maintaining its European forecast, expecting heavy truck deliveries of around 295,000 vehicles in both regions by 2025.
Oct 17 (Reuters) - Swedish truckmaker Volvo (VOLVb.ST) reported a third-quarter operating profit in line with market expectations on Friday, even as weaker demand in North and South America weighed on the results. Volvo’s adjusted operating profit fell to 11.7 billion Swedish crowns ($1.2 billion) in the quarter, from 14.1 billion crowns a year earlier, which matched the average forecast in an LSEG poll of analysts.
The Gothenburg-based group, which also makes construction equipment and engines, lowered its outlook for the North American truck market while keeping its European view unchanged. It now expects heavy truck deliveries of around 295,000 vehicles in Europe and in North America in 2025, signalling softer demand expectations for the U.S. market.
($1 = 9.4074 Swedish crowns)
