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Volvo Q1 profit climbs 19.8% YOY

AB Volvo said its first-quarter normalized net income amounted to 1.94 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.82 kronor per share.

EPS climbed 19.7% year over year from 1.62 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.94 billion kronor, a gain of 19.8% from 3.29 billion kronor in the year-earlier period.

The normalized profit margin rose to 5.1% from 4.6% in the year-earlier period.

Total revenue increased 7.9% on an annual basis to 77.36 billion kronor from 71.71 billion kronor, and total operating expenses grew 6.7% year over year to 70.67 billion kronor from 66.21 billion kronor.

Reported net income increased 26.0% on an annual basis to 4.74 billion kronor, or 2.33 kronor per share, from 3.76 billion kronor, or 1.85 kronor per share.

As of April 25, US$1 was equivalent to 8.77 Swedish kronor.