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Volvo Q3 profit climbs 61.1% YOY

AB Volvo said its normalized net income for the third quarter amounted to 1.42 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.39 kronor per share.

EPS increased 61.1% year over year from 88 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.89 billion kronor, a gain of 61.1% from 1.79 billion kronor in the prior-year period.

The normalized profit margin climbed to 3.6% from 2.7% in the year-earlier period.

Total revenue rose 9.1% on an annual basis to 73.31 billion kronor from 67.22 billion kronor, and total operating expenses rose 5.9% year over year to 68.14 billion kronor from 64.32 billion kronor.

Reported net income grew 104.2% year over year to 3.07 billion kronor, or 1.51 kronor per share, from 1.50 billion kronor, or 74 öre per share.

As of Oct. 23, US$1 was equivalent to 8.49 Swedish kronor.