Volvo Earnings Exceed Estimates as New Trucks Offset Europe
This article is for subscribers only.
Volvo AB, the world’s second-largest truckmaker, posted second-quarter earnings and sales that beat analyst estimates as new models helped mitigate the effects of a recession in Europe and currency shifts.
Earnings before interest and taxes of 3.26 billion kronor ($505 million) at Gothenburg, Sweden-based Volvo said exceeded the 3.22 billion-krona average of nine analyst estimates compiled by Bloomberg. Revenue amounted to 72.8 billion kronor, compared with the 71.6 billion-krona average estimate.